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OCZ in hot water with NASDAQ, receives letter threatening delisting

OCZ could be delisted from NASDAQ stock exchange for not filing proper financial disclosure forms

| Business, Financial & Legal News | Posted: Apr 15, 2013 7:25 pm

OCZ has received a letter from the NASDAQ stock exchange explaining that they will be delisted from the stock exchange if they do not disclose financial earnings. OCZ is able to request a stay of delisting which will then have to be approved by the NASDAQ Listing Qualifications Panel.

 

TweakTown image news/2/9/29720_1_ocz_in_hot_water_with_nasdaq_receives_letter_threatening_delisting.jpg

 

We all know OCZ has been in a bit of financial trouble and has laid off a large portion of its staff. It also delayed reporting its financial earnings and has still not reported earnings for the quarters ending August 31, 2012, November 30, 2012.

 

OCZ says that they have made substantial progress towards completing the required financial documentation.

NEWS SOURCE
Biz.yahoo.com

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