Nasdaq sends Atari another delisting warning
With all its fancy new executives, everything appears to be sunshine at the moment for Infogrames/Atari; but for the third time in less than a year Atari has been threatened with delisting by the Nasdaq stock exchange. The company admits it received a letter from Nasdaq's Listing Qualifications Department stating that it had not gained compliance with the last warning requiring the company obtain $15 million in market capitalization for 10 consecutive days before March 20.
Atari has asked Nasdaq for a hearing which will put a stay on the stock's execution. Meanwhile, Infogrames is looking to buy the "outstanding common stock" of the company, which may put this whole issue to rest. If Infogrames does not succeed, Atari admits there's no assurance it won't be delisted.
