The Chronicle of Higher Education

netLibrary Files for Bankruptcy Protection

By JEFFREY R. YOUNG

The struggling e-book provider netLibrary filed for Chapter 11 bankruptcy protection this month, and the nonprofit library organization OCLC offered to purchase all of the company's assets.

The company's fiscal implosion came just five days after one of its investors filed a lawsuit in federal court alleging that netLibrary had overstated its earnings to attract...

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