Editing MiniScribe (section)

==Acquisition and aftermath==
The company declared [[bankruptcy]] on January 1, 1990,<ref name="fraud"/> and was quickly liquidated with [[Maxtor]] acquiring its assets in a $46 million cash and stock deal in 1990.<ref>{{cite news |url=https://www.nytimes.com/1990/07/03/business/company-news-maxtor-acquires-miniscribe-assets.html |title=Company News; Maxtor Acquires Miniscribe Assets |newspaper=The New York Times |date=2 July 1990}}</ref> Since then MiniScribe Corporation was known as Maxtor Colorado Corporation and later merged with its parent. In a subsequent court case, Wiles claimed to have known nothing of these schemes, saying he was duped by the middle management. Several of those middle managers testified that Wiles was aware of the fraud. The court also noted that Wiles sold a considerable number of shares in the company in April and May 1988, immediately prior to reporting a shortfall due to an "elaborate scheme" to manipulate inventory shortfalls. Wiles was convicted of [[fraud]] and [[insider trading]] in July 1994 following a federal jury trial,<ref name=convicted/> and sentenced to 36 months imprisonment. A portion of Wiles' conviction was overturned on appeal in 1996.<ref name=court />

Founder Terry Johnson later helped found [[CoData (company)|CoData]] with the intent of building a 3.5" hard drive with the capacity of standard 5.25" drives.<ref name="CoData">[http://archive.computerhistory.org/resources/text/Oral_History/Johnson_Terry/Johnson_Terry.oral_history.2006.102657961.pdf Oral History Of Terry Johnson, Computer History Museum]</ref> The company merged with [[Conner Peripherals]] in 1986<ref>Computer Systems News and Electronic News, Feb 1986</ref> and as Conner Peripherals became a major vendor for a time. Johnson died near [[Norman Wells]] in northern Canada while piloting his [[Beechcraft Bonanza]] on July 24, 2010.<ref>{{cite news |url=https://www.cbc.ca/news/canada/north/missing-pilot-found-dead-1.887330 |title=Missing pilot found dead |date=July 29, 2010 |work=CBC News |access-date=18 July 2023}}</ref>