Digital Domain (DDMG -30.5%) crashes below $1 after disclosing it has defaulted on debt payments...

|About: Digital Domain Media Group,... (DDMGQ)|By:, SA News Editor

Digital Domain (DDMG -30.5%) crashes below $1 after disclosing it has defaulted on debt payments for $35M worth of senior notes. The company announced this afternoon that its creditors agreed not to pursue legal action for the time being, but that only gave a slight lift to shares. DDMG adds it continues to evaluate strategic alternatives, including a debt refinancing deal and an offer for a "significant equity investment" in a subsidiary. (previous)