The Los Altos, Calif., chipmaker, which had until July 18 to get up to date on its delayed financial filings, announced Friday that the Nasdaq board will review its case, freezing a ruling to delist Rambus shares should it have missed the deadline.
Rambus is among the many companies that have become delinquent in their financial filings due to internal investigations into stock option backdating. Rambus has not filed a complete financial report in the past year.
Failure to file financial reports with the
Securities and Exchange Commission
in a timely matter is grounds for delisting under Nasdaq regulations.
In recent months, however, the Nasdaq board has exercised its discretion to intervene in delisting matters, reviewing the cases of
Shares of Rambus were up 3 cents at $17.92 in extended trading Friday.