UPDATE: Fairly major clarification, while the main news outlets did seem to significantly underestimate the depth of the changes happening at ClearSpeed both right now and in the last couple of months, our initial claims certainly weren't fully accurate and did not appreciate the complexity of what's happening behind the scenes although details are still incredibly sketchy. Read the full news item
Bad times, bad news. They apparently had some nice IP. They'll probably be bought out by someone at dirt cheap rates.