NASDAQ Sends Dell, Novell Delisting Notices

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  09 September 2006
NASDAQ Sends Dell, Novell Delisting Notices

Quote:"The NASDAQ has alerted Dell and Novell, two tech stalwarts, that it is starting de-listing procedures.



Nasdaq told Dell it has failed to meet requirements for continuing to be listed on its exchange.

In a statement, Dell said it plans to seek a special hearing before a NASDAQ panel to explain its position. The request delays any action by NASDAQ for several months.

"As anticipated, the letter was issued in accordance with NASDAQ rules due to the delayed filing of the company's Form 10-Q for the quarter ended Aug. 4, 2006. Pending a decision by the panel, Dell shares will remain listed on The NASDAQ Stock Market," the Round Rock, Tex.-based company said in a press release. Under NASDAQ rules, a company must issue a press release announcing it has received a delisting letter from the stock exchange, or it can be delisted immediately without a hearing. "

>>LINK<<


-R
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  09 September 2006
Probably just a silly paperwork screw up, but surprising that a company as massive as Dell would let something like this fall through the cracks.

But I am glad that NASDAQ is taking such firm actions.
 
  09 September 2006
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