This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nazz Delist Threats Hollow

Companies that miss the deadline by only a week could get a break, reckons Eth. Others that are still months away from filing their reports may not be so lucky.

"The Nasdaq is taking a practical approach to the issue, realizing that what they're facing in this area is widespread and unprecedented, and you can't just take a Procrustean approach," says Eth, who represents companies involved in delisting matters but declined to name which ones.

Nasdaq rules contain a provision allowing the exchange's board of directors to call a special meeting to review any delisting decision -- an exceptional step more along the lines of a presidential pardon than a standard procedure in delisting cases.

Jason Frankl, a former Nasdaq attorney who now works for FTI Consulting advising companies on Nasdaq compliance issues, says that two of his clients at risk of delisting received notices this week calling for the Nasdaq board to review their cases and staying any future delisting actions.

To Frankl's knowledge, this is the first time the Nasdaq board has ever exercised its discretion to step in.

A Nasdaq representative said the exchange does not comment on interactions with listed companies. "We'll have to let our rules speak for themselves," said the representative, referring to the regulations posted on the Nasdaq Web site.
2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ISSI $0.00 0.00%
ATML $8.14 0.25%
BRCD $8.07 0.62%
HPQ $11.59 1.20%
MRVL $9.56 0.16%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs