September 5, 2019 / 12:48 AM / 15 days ago

Health-test kit supplier uBiome seeks Ch. 11 protection amid FBI probe

Health-test supplier uBiome Inc filed for bankruptcy protection on Wednesday, aiming to complete a court-supervised sale in November after a federal investigation launched earlier this year prompted it to suspend sales of one of its product lines.

In papers in U.S. Bankruptcy Court in Delaware, Acting Chief Executive Curtis Solsvig III said uBiome’s goal in Chapter 11 is to close a sale by Nov. 18 that keeps 100 of its remaining workers employed on its Explorer product, a stool sample kit sold directly to consumers.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2k03DtX

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