Atari Again Subject to Nasdaq Delisting

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http://www.next-gen.biz/index.php?option=com_content&task=view&id=9733&Itemid=59

By Kris Graft

 Atari has been notified yet again by the Nasdaq stock market for not meeting listing requirements. Atari said Wednesday that it was unable to maintain a market value of $15 million for 10 consecutive business days before March 20, resulting in this latest notice from the Nasdaq.

Nasdaq told Atari in late December that the game company had to maintain the target market value after the New York-based publisher fell short of the $15 million mark for 30 consecutive business days.

Atari said it intends to request a hearing before a Nasdaq Listing Qualifications Panel to appeal the decision in light of the recent proposal by Infogrames to acquire all Atari shares.

For the time being, Atari will remain listed as the hearing is arranged and as the panel issues its decision.

Atari said that there is "no assurance" that the panel will grant the publisher's request for continued listing.