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Lernout & Hauspie Files for Chapter 11 Bankruptcy
Lernout & Hauspie(LHSPE Quote) filed for Chapter 11 bankruptcy protection on Wednesday in the U.S. Bankruptcy Court in Delaware.
The troubled speech recognition software maker filed for bankruptcy along with its Dictaphone unit and another affiliate. The company couldn't be reached for comment.
Trading in Lernout & Hauspie has been halted since earlier this month, as the company set plans for a major management shake-up and disclosed that it will restate two and one-half years of financial results....
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