James Lee
09:58 (BST)
09/05/2008
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Trading suspended for Atari as Nasdaq delists company
Atari Inc., a subsidiary of Infogrames, has had its securities delisted from the Nasdaq Global Market, suspending trading in the company's shares.
The company has announced it plans to request a review of the delisting, which could result in Atari's stock being traded on the Nasdaq again but will not immediately see the suspension end.
Atari Inc. now expects to be quoted on the Pink Sheets, which allow for the continued trading of securities of delisted companies. The company's common stock could be traded under the symbol "ATAR" or "ATAR.PK".
As previously announced, Atari failed to maintain the market value of its shares at USD 15 million or more for a minimum of 10 consecutive business days prior to March 20, 2008.
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