Embattled Medical Device Maker Files Ch. 11

Law360, New York (June 20, 2007, 12:00 AM EDT) -- Weeks after medical device maker DOBI Medical International Inc. settled claims of securities fraud, the company filed for Chapter 11 bankruptcy protection.

The New Jersey-based medical device developer and manufacturer filed for bankruptcy last week, listing $53,923 in total assets and $7,593,537 in total debts. DOBI has retained Herrick Feinstein LLP to represent the company in the proceedings.

The company ceased operations in June 2006, citing a lack of funding to support continued production.

The Chapter 11 filing came just a few weeks after DOBI agreed...
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