Web News: Nvidia faces NASDAQ de-listing

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Web News: Nvidia faces NASDAQ de-listing

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14-September-06, 07:21 AM

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Web News: Nvidia faces NASDAQ de-listing

Nvidia faces NASDAQ de-listing

Quote:

Originally Posted by theinquirer.net


	GRAPHICS chip maker Nvidia has admitted that it has received a letter from the NASDAQ stock exchange saying it faces possible de-listing. Nvidia failed to file its quarterly statement for its last fiscal quarter because it is the subject of a sweeping US Securities and Exchange Commission probe into the practice of options backdating. The company has said it may have to restate its earnings as far back as 1999 which was the day it held its first public auction. This means it will have to rewrite every earnings report it has ever released to the public for the last seven years. Nbidia has asked the NASDAQ exchange for a hearing date to plead its case. That petition alone will buy the company time, as it cannot be de-listed under exchange rules until that hearing date. Full Story at theinquirer.net

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