Molecular and sensing tech maker Luna Innovations expects to emerge from Chapter 11 bankruptcy
By APTuesday, January 12, 2010
Luna Innovations expects to emerge from bankruptcy
ROANOKE, Va. — Luna Innovations Inc., which develops molecular and sensing technologies, says it expects to emerge from Chapter 11 bankruptcy protection.
Luna will present its reorganization plan to a federal bankruptcy judge Tuesday at a hearing in Roanoke.
The plan includes the settlement of a lawsuit between Luna and Hansen Medical Inc. Under the settlement, Luna would pay $5 million and give Hansen about 1.3 million shares of common stock.
Luna Chairman and CEO Kent Murphy said Monday in a conference call with investors that the Roanoke-based company will emerge from Chapter 11 as a stronger company.
It filed for Chapter 11 bankruptcy protection in July 2009.
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