We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SGI Wins Approval To Limit Equity Trades

Law360 (June 1, 2006, 12:00 AM EDT) -- Less than a month after Silicon Graphics Inc. asked a bankruptcy court to limit large trades of its equity, the high-performance computer maker has won final court approval to do so in a bid it hopes will help to protect certain tax benefits.

Judge Allan L. Gropper of the U.S. Bankruptcy Court granted the bid this week, saying unrestricted trading of Silicon Graphics' stock could "severely limit” the company’s ability to use net operating loss carryforwards to offset future tax liabilities.

Now shareholders owning at least...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.