Activision Gets Delisting Warning

The company hasn't filed results due to an options review.
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Video-game developer

Activision

(ATVI) - Get Report

needs to get its books in order soon. The company said late Wednesday its shares are in danger of being delisted from the

Nasdaq

for its inability to file its last quarterly report in time.

Activision said it received a Nasdaq Staff Determination Letter indicating that it is not in compliance with the filing requirements for continued listing on the Nasdaq.

Shares of Activision were down 20 cents, or 1.2%, to $16.45 in after-hours trading. The stock had closed at $16.68, up 1.4%.

The news doesn't come as a surprise. The Santa Monica, Calif.-based company is conducting a review of its historical option-grant practices and hasn't released details of its earnings results.

But the company has emerged one of the more popular gaming stocks in the market. Shares of Activision have been up nearly 25% in the last six months.

Activision says it is working to stay listed. "Activision intends to file its Form 10-Q as soon as practicable following the completion of the review by the special subcommittee of independent members of Activision's board of directors," it said in a statement.

The company also plans to request a hearing before the Nasdaq Listing Qualifications Panel to request continued listing and to present a plan for making all required filings and regaining compliance with the Nasdaq filing requirements.