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Atari Faces Nasdaq Delisting

Discussion in 'Game/SP News & Comments' started by chevalier, Aug 5, 2005.

  1. chevalier

    chevalier Knight of Everfull Chalice ★ SPS Account Holder Veteran

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    According to TheStreet.com, Atari has received a warning from Nasdaq, informing of the danger of having its stock delisted as a result of not meeting the requirements. Here's a clip:

    In a letter on Tuesday, Nasdaq warned Atari that didn't comply with stock market listing requirements, since it currently has just two board members on its audit committee, neither of whom qualifies as a financial expert, Atari said in a regulatory filing Wednesday. The company has until Aug. 17 to submit a plan for coming into compliance, Atari said. "Atari will submit the requested compliance plan to the Nasdaq on or before Aug. 17 and will promptly respond to and address any questions or concerns communicated by the Nasdaq regarding such plan," the company said in the filing.

    Read the whole thing at TheStreet.
     
    chevalier, Aug 5, 2005
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