Digital Domain Media Group, creator of special effects in the “Transformers” films and James Cameron’s “Titanic,” plunged to a record low after it began a restructuring that may prompt a bankruptcy filing.

Digital Domain fell 39 percent to 60 cents, for the biggest decline and lowest price since an initial public offering last year. The stock traded at a high of $9.20 in May.

John Textor, chairman and CEO, resigned. Ed Ulbrich, a longtime executive, will lead the core business. The company, co-founded by Cameron and part owned by football star Dan Marino as of last year, needs to restructure its debt and cut overhead. The company went public last November.