Emcore Faces Credit Agreement Disputes and Board Changes

An update from Emcore (EMKR) is now available.

EMCORE Corporation was notified of alleged defaults under its Credit Agreement by its lenders, citing issues including failure to provide certain financial documents and projections, and not notifying about interest payment decisions. The company disputes some claims, acknowledging and rectifying others, and is in discussions to resolve these issues. Additionally, there have been changes to the company’s Board of Directors, with a resignation and new appointments to its committees.

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