- In response to its inability to secure additional sources of liquidity or complete a going concern sale, Cyren ( NASDAQ: CYRN ) board approved a plan to cease operations and commence insolvency proceedings for the company and to liquidate its wholly-owned subsidiaries under applicable insolvency and other laws.
- It plans to start a voluntary bankruptcy proceeding in Israel by filing an insolvency application with the Tel Aviv District Court.
- Cyren has notified Nasdaq of the foregoing and expects that its ordinary shares will stop trading on Nasdaq on a date that the exchange decides.
For further details see:
Cyren announces liquidation