eLinear Announces Its Intention to Liquidate Under The U.S. Bankruptcy Code
By: Financial News
eLinear, Inc. (AMEX:ELU) ("Company") today announced that on September 15, 2006, it filed a voluntary petition in the United States Bankruptcy Court for the Southern District of Texas, Houston Division, seeking relief under Chapter 7 of the United States Code. An order for relief was entered on September 15, 2006. The proceeding has been assigned Case No. 06-34810-H5-7. On September 19, 2006, the Company shall cease to trade on the American Stock Exchange. The Company is not aware if its securities will trade on, or if a market will be made in, the over the counter market.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected.
eLinear undertakes no obligation to update any forward-looking statement that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise. Article Source: http://www.content.onlypunjab.com For additional information about eLinear please visit www.elinear.com or www.sec.gov
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