AllThingsD » Cleary Gottlieb Steen & Hamilton http://allthingsd.com Sun, 12 Feb 2012 02:05:24 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://allthingsd.com/theme/images/logo-rss.jpg All Things Digital http://allthingsd.com/ 144 22 Nortel Agonistes http://allthingsd.com/20081212/nortel-agonistes/ http://allthingsd.com/20081212/nortel-agonistes/#comments Fri, 12 Dec 2008 22:53:07 +0000 John Paczkowski http://digitaldaily.allthingsd.com/?p=9584 Nortel Networks is slipping closer to the abyss each day. Earlier this week it was reported that the long-suffering telecommunications equipment maker is seeking advice from Lazard Ltd. and law firm Cleary Gottlieb Steen & Hamilton about bankruptcy proceedings. Now comes news that it has received a delisting notice from the New York Stock Exchange. If Nortel (NT) can’t get its stock price above the required $1-a-share minimum the NYSE requires, its shares, which have lost a stupefying 97 percent of their value this year, will be delisted.

Grim news for the once-darling tech company, which was worth about $250 billion.

Its market value today: about $275 million.

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