Attempt To Get Out Of Chapter 11 Takes Bite Out Of Shark, DBC


Nearly 20 percent of employees at Shark Information Services Corp. and Data Broadcasting Corp. (DBC) were laid off this month as part of an attempt to bring the two companies out of parent Infotechnology Inc.'s Chapter 11 bankruptcy proceedings. Infotech officials say the sister companies' combined profit levels must rise to meet the terms of a deal with creditors and shareholders, who are allegedly willing to take an equity position in a new parent company for the two market data vendors.


To continue reading...