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atari off the market

Atari Officially Delisted From Nasdaq

In an SEC filing, Atari reported that its delisting from the Nasdaq is official. Trading of the company's shares was suspended this morning at market open.

The company said it will appeal the decision, bringing it before Nasdaq's Listing and Hearing Review Council. At the same time, Atari is going ahead with previously-announced plans to merge with Infogrames, its majority shareholder, who is also loaning the company $20 million in required capital.

The company received a notice in December 2007 that it had to maintain a market value of $15 million or more for at least 10 business days, which it was unable to do. On March 24th, 2008, the Nasdaq notified Atari that it would be delisted unless it requested a hearing - it did, and that hearing, held on May 1st, failed to swing things Atari's way, and the Nasdaq ruled to proceed with the delisting process.

Full announcement follows the jump.

More »

11:40 AM on Fri May 9 2008
By Leigh Alexander
1,281 views, 30 comments

financial

T2: Ten Years Worth of Financials Are Bad

The past ten years worth of Take-Two financial reports may not be reliable and the company incorrectly granted and documented stock options, a special investigatory committee found. More »

8:29 AM on Mon Dec 11 2006
By Brian Crecente
155 views, 4 comments

nasdaq

Take-Two To Get Bumped From NASDAQ?

NASDAQ is threatening to delist Take-Two interactive from their stock market for failing to file a quarterly report, as required by their rules, according to an SEC filing. More »

6:00 PM on Thu Sep 21 2006
By Brian Crecente
86 views, 7 comments