According to TechCrunch , OnLive filed for bankruptcy in order to reduce employee equity to practically nothing thus reducing company liability and price of acquisition.
The site claims to have heard this from a reliable source. A statement from OnLive was made to TechCrunch and explained that a “large percentage of OnLive Inc.’s staff” will be rehired but did the statement did not address the claims made regarding reducing employee equity to attract buyers.
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