SFX entertainment [a company which promotes company electronic dance music around the world] on Monday filed for Chapter 11 bankruptcy. By then their stock had lost 95% of it's value. The "bankruptcy reorganization" will eliminate about $300 million from its debt balance sheet and SFX will be turned into a private company. http://www.seattletimes.com/business/music-festival-promoter-sfx-files-for-bankruptcy-protection/ I'm sure smart investors cut their losses before share prices dropped to $0.07.
