As a result, the company received a letter from Nasdaq on July 8, 2010, indicating the company’s common stock will be de-listed from the Nasdaq Global Market because it did not meet the minimum standards for continued listing. On July 13, 2010, the company requested a hearing to review the staff’s determination. Pending a decision, the company’s shares will remain listed on the Nasdaq Global Market.
The company also is not in compliance because the market value of its publicly held shares of common stock was less than $15 million for 30 consecutive business days. The company has until December 13, 2010, to regain compliance with this continued listing requirement.