VidAngel, the company that offered its users “clean” versions of existing movies, said today that it has filed for Chapter 11 bankruptcy protection. CEO Neal Harmon announced the move, saying, “It’s an important step to protect our company — as well as its creditors, investors, and customers — from the plaintiffs’ efforts to deny families their legal right to watch filtered content on modern devices.” Read his full statement below.

The news comes less than two months after the 9th Circuit Court of Appeals sided with Disney, 20th Century Fox and Warner Bros in their lawsuit and ruled against the Utah-based company.

VidAngel offered the cleaned-up version of films by cracking the encryption on discs, then selling and repurchasing the content in transactions with consumers who specified edits — in effect, the sale and re-purchase created a cheap, family-friendly rental of films.

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Here is Harmon’s full statement: