Trident Microsystems may face delisting |
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Published
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Tue, 20 Feb 2007 17:45
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SANTA CLARA, Calif. (AP) - Trident Microsystems Inc., which makes chips for televisions, said Tuesday its shares may face delisting from the Nasdaq Stock Market because the company failed to file its financial results for the period ending Dec. 31 on time.The company previously was warned by Nasdaq that it could face delisting for failing to file financial results for the year ended June 30 and the quarter ended Sept. 30 due to a stock-option investigation.Last month Nasdaq said it would continue to list Trident's shares subject to receiving the results of the investigation and Trident filing its delinquent reports and any necessary restatements by April 2.Trident said it is working on filing the financial results by the deadline. It filed an appeal on Jan. 31 requesting that Nasdaq's listing and hearings review council stay the panel's decision and any future delisting decisions pending a ruling on the appeal.Shares of Trident dropped 2 cents to $20.57 in morning trading on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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