Matt Martin
10:15 (BST)
04/09/2006
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Atari to fight NASDAQ delisting
Publisher stock fails to meet US$1 per share minimum price
Troubled publisher Atari has vowed to fight being delisted from the NASDAQ stock market.
Atari has been unable to comply with a NASDAQ requirement that common stock maintained a US$1 per share bid price for a minimum of ten consecutive days. Atari stock is currently worth US$ 0.69 per share.
A statement from the publishers reads: âAtari intends to request a hearing before a NASDAQ Listing Qualifications Panel and will submit its plan of compliance in connection with such hearing.â
âThe hearing request will stay the staff's determination and, as a result, the Company's securities will remain listed on The NASDAQ Global Market until the Panel issues its decision following the hearing (the date of which is not yet known).â
Despite the determined statement, it goes on to admit: âThere can be no assurance that the Panel will grant the Companyâs request for continued listing on the NASDAQ Global Market.â
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