Zalman is going nowhere fast and it’s business as usual for the company.

That’s according to a statement released by the company and first published by Tom’s Hardware.

“Recent rumors circulating through major tech news outlets, internet message board forums, and other websites regarding Zalman’s imminent bankruptcy and connection with Moneual’s fraud allegations are completely false,” the statement read. “Zalman is currently restructuring the company under the oversight and jurisdiction of the court in South Korea.We would like to emphasize that this will not be a mechanism for company liquidation (i.e. bankruptcy).”

In early November, a number of high-profile technology websites reported that Zalman was heading for bankruptcy as its South Korean parent company, Moneaul, was caught in the midst of a multi-billion dollar case of white collar fraud. These reports, all lightly sourced from a Japanese-language report by the publication Ask Corp, echoed through the blogosphere as publications were citing each other without bothering to do some analysis or even contact the company itself.

Zalman stresses that warranties will continue to be honored.

Below is the full statement from the company:

Disclosure Statement on Zalman Bankruptcy and Connection with Moneual’s Fraudulent Activity

 

The purpose of this disclosure is to announce our official statement addressing the rumors on company bankruptcy and Zalman Tech’s connection with the $3 Billion in financial fraud committed by parent company Moneual.
Recent rumors circulating through major tech news outlets, internet message board forums, and other websites regarding Zalman’s imminent bankruptcy and connection with Moneual’s fraud allegations are completely false. Zalman is currently restructuring the company under the oversight and jurisdiction of the court in South Korea.
We would like to emphasize that this will not be a mechanism for company liquidation (i.e. bankruptcy). The following are details in
addressing the rumors:
(1) Zalman Bankruptcy and Its Implication to Customers
While Zalman headquarters is experiencing financial hardship due to the recent troubles caused by Moneual, Zalman is not going bankrupt. Nothing will change for owners of existing Zalman products as they are still covered by the manufacturer’s warranty if applicable. Zalman
will always guarantee post-purchase support to our customers. Customer satisfaction has always been our top priority and we will continue towards that goal with superior product quality, innovative technologies, and outstanding customer service.
(2) $3 Billion Fraud Conspiracy
ZALMAN was not involved in any fraudulent activity of parent company Moneual, anything to the contrary are baseless allegations with no factual evidence. While everyone at Zalman is deeply saddened and disappointed with the actions of Moneual, we emphasize the fact that Zalman itself
was never a part of anything illegal, in actuality Zalman was one of the hardest hit victims by this recent scandal.