Imris files for bankruptcy protection; shares plummet 87%

|About: Imris Inc (IMRS)|By:, SA News Editor

Thinly traded nano cap Imris (IMRS -86.8%) announces that its subsidiaries NeuroArm Surgical and Imris U.S. have each filed for Chapter 11 bankruptcy protection. The company intends to sell its business operations to an affiliate of Deerfield Management Company. The transaction is expected to close in late summer.

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