Apple Computer plans to request Nasdaq hearing to keep stock
listed
- Aug 11, 2006 07:01 PM (AP Online)
SAN FRANCISCO, Aug 11, 2006 (AP Worldstream via COMTEX News Network) --
Apple Computer Inc. maneuvered Friday to keep its shares listed on the Nasdaq
Stock Market after reiterating that its mishandling of past employee stock
options will cause it to miss a regulatory deadline for filing its latest
quarterly results.
The Cupertino, California-based maker of iPods and Macintosh computers said it
will ask for an administrative hearing in response to a Nasdaq letter formally
warning of a possible delisting because of the company's delay in making its
quarterly report to the Securities and Exchange Commission. The report covers
the three months ending July 1, a period in which the company has previously
said it earned $472 million (?369 million).
By requesting a Nasdaq hearing, Apple ensured its shares will remain listed
until a two-person panel reviews the matter and then issues a ruling. That
process generally takes two to three months to complete.
Apple conceivably could file its tardy report with the SEC before the Nasdaq
hearing, although the company hasn't set a timetable for doing so. "The company
is focused on resolving these issues as quickly as possible," Apple said in a
Friday statement that echoed earlier remarks.
...
- http://www.quote.com/home/news/story.asp?story=60475818
Reply with a "Thank you" if you liked this post.
_____________________________
MEDIANEWS mailing list
[email protected]
To unsubscribe send an email to:
[EMAIL PROTECTED]
