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Novell, Dell Face Delisting From NASDAQ
narramissic writes to tell us that Novell has confirmed receiving a delisting notice from the NASDAQ stock exchange, after the software company delayed filing its most recent quarterly report to the U.S. Securities and Exchange Commission. Dell is in the same position. Both companies, and others including Apple, are grappling with investigations of the way they issued stock options and — in Dell's case — other accounting irregularities. Both companies are appealing the delisting, which means they won't vanish from the stock exchange anytime soon. NASDAQ rules require listed companies to announce the receipt of a delisting notice.
The exchanges give plenty of time to comply so as to avoid delisting. Happens all the time.
Terrible karma and aiming lower, which in this environment of one-sided reason, is higher.
I'm glad to see the scab picked off questionable securities practicies (screw you, robber-baron corporate weasels), but this headline is a bit tabloid. These notices are routine and automatic, coming to nothing once the company in question files their tardy report.
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