Cyber Firm Gets OK For Vote On Ch. 11 Liquidation Plan

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
image
By Rick Archer (January 12, 2022, 2:28 PM EST) — The successor to bankrupt cybersecurity firm NS8 Inc. got the nod Wednesday from a Delaware bankruptcy judge to start taking votes on a liquidation plan that would dedicate its assets to paying off claims stemming from its ex-CEO’s alleged false financial statements.

According to the Chapter 11 plan disclosure statement approved by U.S. Bankruptcy Judge Craig Goldblatt after a short hearing Wednesday, nearly all the funds Cyber Litigation Inc. has or will raise from legal actions in the future will go toward paying off more than $135.6 million in claims from shareholders alleging they were lied to about NS8’s financial condition….

Read more