Company Profile: Clearwire builds and operates next-generation wireless broadband networks.Current Share Price: $5.51 (March 29) Listing Violation: Audit committee composition. The listing rule requires that a majority of the board of directors must consist of independent directors and that the company's audit committee have at least three members, all of whom must be independent. Received Nasdaq Notice: March 21 Management's Expected Action: Clearwire currently has a vacancy on its audit committee after John Stanton resigned from the position. The Nasdaq has provided the company with a cure period that lasts until Sept. 6, and Clearwire says it expects to fill the vacancy on the audit committee within that time limit.
America Service Group (ASGR) Company Profile: America Service Group provides or administers health-care services to over 160 correctional facilities throughout the U.S. It is also a non-governmental provider and/or administrator of correctional health-care services. Current Share Price: $25.68 (March 29) Listing Violation: Audit committee composition. The listing rule requires that a majority of the board of directors must be comprised of independent directors and that the company's audit committee have at least three members, all of whom must be independent. Received Nasdaq Notice: March 21 Management's Expected Action: America Service Group said John McCauley, who served as a member of the company's audit committee, has filled the newly created position of chief risk officer as of March 1. The Nasdaq has given America Service Group a cure period to satisfy the requirement. The company says it anticipates replacing McCauley on the audit committee prior to the next audit committee meeting.
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