Government-backed battery maker A123 Systems filed for bankruptcy. The Boston Globe has details:
In 2009, A123 held an initial public stock offering, raising about $380 million with its initial stock offering. Also in 2009, A123 received a $249.1 million grant from the US Department of Energy to build battery manufacturing operations in Michigan.
At its peak in 2009, A123 stock traded above $25 a share. Shares were trading at 6 cents Tuesday afternoon.