Xybernaut In Trouble

from the doesn't-look-good dept

Xybernaut has been around for ages, without ever getting very much traction. The company always seems to get hype for their wearable computing offerings because the press seems to love wearable computers -- but they've never been able to build that much success in the consumer space (the government, military space is a different story, apparently). However, now it's coming out that the company appears to be in serious trouble and federal investigators are starting to look into allegations that the senior execs used "substantial" company funds for personal expenses. Last week the company's CEO and his brother (who happened to be the President and COO) both resigned -- and already the guy who took their place has resigned after one week, suggesting that things are even more troubling than they originally appeared. Meanwhile, the company admits that it probably doesn't have much money left to deal with the various investigations and charges, so this may be the end of having to read plenty of stories every year about consumer focused wearable computers that never seem to reach the market.
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