Valence Technology (VLNC) files for Chapter 11 bankruptcy. The company, a developer of...

|By:, SA News Editor

Valence Technology (VLNC) files for Chapter 11 bankruptcy. The company, a developer of lithium-ion batteries for vehicles and other high-power equipment, had already disclosed board resignations and a delisting notice yesterday afternoon. Rival A123 Systems (AONE +1.7%), which has its own cash flow problems, isn't showing any ill effects.