Atari Being Threatened with NASDAQ Delisting.. Again
Posted by Chris on Thursday, March 27th, 2008 at 8:11 pm under Games Industry, Atari, Game Companies
Tagged: Atari, infogrames, NASDAQ and Phil Harrison
Yes, it’s happening once again like a bodily function the company just can’t shake – Atari is once again being threatened with a delisting by the hands of NASDAQ. In the past, it’s been due to the company’s declining value and failing to file annual reports on time. This time, it’s a failure of a NASDAQ requirement to have the company’s value reach and/or exceed a value of $15 million for ten consecutive days, which Atari did not do by the March 20 deadline.
Atari has requested a hearing before a NASDAQ panel so that they may appeal the decision, according to GamesIndustry.biz. Given Infogrames’ attempt to acquire the rest of Atari, they might be able to make a solid argument. However, Atari admits that there are no assurances one way or another, so a NASDAQ delisting might be unavoidable at this point.
Things are off to a rocky start for the Phil Harrison Atari era, but I feel confident in saying he’ll be able to help turn things around.
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March 28th, 2008 at 7:38 am
What does Atari do again