CIT group, a nation’s leading lender to small businesses, has filed for Chapter 11 bankruptcy protection. The bankruptcy was expected, since the company was struggling for months to avoid it, and came very close to declaring Chapter 11 bankruptcy in July 2009 after the Treasury rejected the CIT’s request for additional bailout money, but was [...]
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Morphlabs Raises $5 Million in Series C Financing
Manhattan Beach, Calif. – September 6, 2011 – Morphlabs, a provider of converged Dynamic Infrastructure solutions for the Enterprise, announced today that it has raised $5 million in Series C funding. The round was led by strategic partners BBT of Japan and a private, Indoneseia-based investor group. Morphlabs will use the additional capital to fuel immediate [...]