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June 30, 1997updated 05 Sep 2016 12:40pm

DISK INTEGRATOR STREAMLOGIC OFF NASDAQ, FILES CHAPTER 11

By CBR Staff Writer

As expected (CI No 3,186) Streamlogic Corp, the disk subsystem integrator once known as Micropolis Corp, has filed for Chapter 11 bankruptcy protection, following its $20m loss last quarter. The mounting losses, coupled with litigation problems have finally pushed it over the edge. And effective June 25 1997, the company’s securities were de-listed from Nasdaq, based on a combination of the stock price, market capitalization and level of net tangible assets. Streamlogic said it is working on a reorganization plan which includes significant staff reductions, a move from the company’s present base in Menlo Park, California, and a consolidation of manufacturing , engineering and research an development into a single facility in Northern California.

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