Atari Faces Nasdaq Delisting
Atari has received a notice of delisting from the Nasdaq, the company announced on Friday.
The notification that Atari is field of study to delisting from the NASDAQ Global Market came as a result of the company's failure to file its business enterprise report for the past financial year, which left it in violation of Marketplace Rule 4310(c)14. The required describe, a Form 10-K, has not been filed because Atari is still determining what accounting entries need to be made "with respect to certain severance matters."
The Nasdaq Staff Determination that the company has failed to abide by with regulations will non result in the immediate delisting of Atari's coarse blood, as the company has requested a hearing with the Nasdaq Listing Qualifications Board. The delisting process will be delayed pending the hearing, during which time Atari intends to file the Form 10-K, bringing it back into compliancy with regulations.
This is not the 1st fourth dimension Atari has faced delisting from the Nasdaq. In March of 2006, the society received notice of pending delisting if IT failed to puzzle over its share Leontyne Price above $1.00 for at any rate 10 consecutive byplay days. Around the clip of that notification, on March 9, the company's shares were trading at $0.77.
https://www.escapistmagazine.com/atari-faces-nasdaq-delisting/
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