Dell expects to miss Nasdaq deadline |
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Tue, 23 Jan 2007 23:02
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ROUND ROCK, Texas (AFX) - Computer and server maker Dell Inc. said Tuesday that the Nasdaq conditionally approved the company's request to remain listed, but that it is unlikely to meet one of the requirements.Dell is subject to delisting after several investigations forced the company to delay filing its quarterly report for the period ended Nov. 3. Nasdaq requires companies to remain up to date with regulatory filings.Dell petitioned Nasdaq for a stay, which was granted provided the company file by March 1 unspecified documents related to the probes, and overdue financial reports by March 14.Dell said it expects to be able to meet the March 1 deadline, but that it does not expect that it will be able to file its delayed financial reports by March 14.The company plans to petition Nasdaq's listing board for additional time to file the reports, but cannot guarantee its request will be granted.The information due March 1 relates to an investigation by the company's audit committee. The investigation, and two other probes by the Securities and Exchange Commission and the U.S. Attorney for the Southern District of New York, pertain to reserves and other balance sheet items that could affect previous results.Dell shares fell 20 cents to close at $24.29 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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