SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 2, 1998
SYQUEST TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-19674 94-2793941
(Commission File Number) (IRS Employer Identification No.)
47071 Bayside Parkway, Fremont, California 94538
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (510) 226-
4000
Not Applicable
(Former name or former address, if changed since last report.)
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
SYQUEST SUSPENDS OPERATIONS/TRADING IN ITS SECURITIES IS HALTED
On November 2, 1998, the Company announced that that it has
suspended operations and is considering alternatives including
filing a Chapter 11 petition under the U.S. Bankruptcy Code.
That decision was precipitated as a result of the Companys
worsening financial crisis. After discussions of its current
circumstances with the Market Watch department of the Nasdaq
Stock Market, trading in the Companys securities was also
suspended. Notwithstanding the foregoing, the Company plans to
maintain limited support to its customers while it evaluates its
alternatives.
Item 7. Financial Statements and Exhibits
c) Exhibits
99.1 Registrant's Press Release dated November 2, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
SYQUEST TECHNOLOGY, INC.
(Registrant)
Date: November 3, 1998 By /s/ Henry Lo
Henry Lo, Chief Financial Officer
Exhibit 99.1
For Immediate Release
SYQUEST TECHNOLOGY, INC. SUSPENDS OPERATIONS AND REQUESTS
SECURITIES TRADING HALT
Fremont, California, November 2, 1998, SyQuest Technology, Inc.
(Nasdaq:SYQT), announced today that it has suspended operations
and is considering alternatives including filing a Chapter 11
petition under the Bankruptcy Code. The company plans to
maintain limited support to its customers.
Under these circumstances, SyQuest has requested a halt in the
trading of its securities. For further details on these and
related matters, please consult the Companys Form 8K filed on
October 27, 1998 and previous SEC filings.
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This news release contains forward-looking statements that
involve risks and uncertainties, including competition in the
marketplace for the Companys products, and other risks detailed
from time to time in the SEC reports filed by SyQuest including
its most recent reports on Forms 8K, 10K, and 10Q.
1998 SyQuest is a registered trademark and the SyQuest logo is a
trademark of SyQuest Technology, Inc. All other brands or trade
names are the property of their respective companies.
