Jari Ketola
14 Oct 2000 6:53
Web file-swapping company Scour on Thursday said it has filed for Chapter 11 bankruptcy protection, the latest setback for the Internet start-up backed by Hollywood power broker Michael Ovitz.
Scour was sued in July by the motion picture and recording industries, which alleged widespread copyright violations from Scour's Scour Exchange file-sharing software. The costly lawsuit eventually led to the company laying off sixty of it's seventy employees.
Scour's services will remain available to consumers. The company added it filed for bankruptcy protection "in the face of burdensome lawsuits."
Source:
CNET News.com