Novell gets Nasdaq non-compliance notice |
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Tue, 20 Mar 2007 20:35
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NEW YORK (AP) - Business software developer Novell Inc. reported Tuesday in a filing with the Securities and Exchange Commission that it received a third notice of noncompliance from the Nasdaq Stock Market.The March 15 notice cites Novell's delay in filing its first-quarter financial report as cause for its potential delisting. Novell has delayed filing several reports to complete an internal review of its historical stock-based compensation practices.Novell also received noncompliance notices for failing to file its reports for the fiscal quarter ending July 31, 2006, and the fiscal year ending Oct. 31, 2006.The company said it will meet Nasdaq's deadline to address the delay in filing its first-quarter report by March 22. The company will also submit by May 4 a plan for filing the rest of its delinquent reports.Novell said Nasdaq may not grant the company a further extension following its submissions.Novell shares rose 19 cents, or 2.4 percent, to $7.18 in afternoon trading on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Novell gets second Nasdaq warning 