PurchasePro.com Inc. filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court in the district of Nevada on Thursday. The Las Vegas-based online business to business marketplace will sell its assets to Perfect Commerce, an online commerce facilitator.
Separately, PurchasePro said it had reached an agreement with the Secutities and Exchange Commission’s Enfocement Division. The SEC had been investigating the company since spring 2001 regarding its dealings with other technology firms.
Palo Alto, CA-based Perfect Commerce markets online auction software.
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