Integrated Silicon delisting postponed |
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Sat, 27 Jan 2007 00:07
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SANTA CLARA, Calif. (AFX) - Semiconductor company Integrated Silicon Solution Inc. said late Friday Nasdaq put on hold a previous decision to delist the company, pending a further review.The company faces delisting because it has failed to file financial reports with the Securities and Exchange Commission as it undergoes a stock options grants practices review. It is conducting an internal investigation, reviewing stock option grants back to 1995.It is one of 92 companies that have voluntarily launched such investigations as the SEC or Department of Justice investigates about 107 additional companies for possible backdating. The practice entails changing the vesting date of a stock in order to make it more profitable for the holder.Previously, the company had to file all required statements by Feb. 13, but now it has until March 2 to file additional information.Shares of Integrated Silicon rose 30 cents, or 5.3 percent, to close at $5.92 on the Nasdaq. The stock has traded between $4.23 and $6.88 per share over the last 52 weeks.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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