Sigma Designs Delisting Notice

Shares rally in early action.
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Sigma Designs (SIGM) was sent a second delisting notice from the Nasdaq for its failure to meet financial filing deadlines due to a stock option accounting review.

The Milpitas, Calif., TV chipmaker was notified Tuesday by the Nasdaq that it was in violation of its trading guidelines. The company has not issued a statement on the latest letter.

Sigma said in a Dec. 8 filing that it was probing its stock option grant dates and reviewing its bookkeeping. As a result, the company said it would be unable to file a full financial report for the quarter ended Oct. 28.

In September, the company has said that if found discrepancies in its option grant dates and the dates when the grants were recorded.

Sigma shares rose $1.08, or 4%, to $27.45 in late-morning trading Monday.