Altegrity Files Bankruptcy After ‘State-Sponsored’ Breach

Altegrity Inc., the security firm that vetted National Security Agency contractor Edward Snowden for the U.S., filed for bankruptcy after state-sponsored hackers cost it two government contracts.

The company went into bankruptcy court in Delaware with a $700 million debt-cutting plan already approved by most of its secured lenders and a promise of new money from funds such as Third Avenue Management LLC. The deal, along with asset sales, might knock out 40 percent of its loans, according to court papers filed Sunday.