X-Rite shares drop on loan defaults

By Adam Dewitz on April 29th, 2008

Shares of X-Rite stock dropped after the company reported further defaults on loan agreements tied to its aggressive buying spree the past two years.

X-Rite has had some troubles lately, first announcing low then expected profits, and then reports of layoffs coming out of Grand Rapids, MI.

Shares of X-Rite closed at $2.64 after starting the week at 4.42.