facebook rss twitter

Atari issued with third strike from Nasdaq

by Steven Williamson on 2 January 2008, 13:26

Quick Link: HEXUS.net/qakv4

Add to My Vault: x

Atari has till March to buck their ideas up

Due to Atari, Inc's failure to submit its financial statement for the quarter ending 30 June 2007, Nasdaq has issued the troubled publisher with its third delisting notice in the last six months.

Back in August, Atari said they were still determining what, if any, accounting entries it needed to make with respect to certain severance matters.

The latest notice has been served by Nasdaq because Atari has failed to meet the minimum market value of its shares as required by the Nasdaq Global Market.

The company has yet to pass comment on the latest notice, but according to It Week they have "until 20 March 2008 to regain compliance with the minimum market value of its publicly held shares required for continued listing on the Nasdaq Global Market. "

How many delisting notices do you need to get before there's any real action taken?

Happy New Year, Atari Inc.

Source :: IT Week


HEXUS Forums :: 5 Comments

Login with Forum Account

Don't have an account? Register today!
Posted by Russ - Wed 02 Jan 2008 13:29
people will probably post here slating that they make crap games and deserve it, but Atari is as famous a name in computer games as any other, who didnt have a 2600 ot 5200 or st?.. just the youth of today, if they go bump, they'll be missed :(
Posted by mikerr - Wed 02 Jan 2008 14:08
Aye, Atari basically created the whole home console market in the early 1980s

Actually, before I got the Wii this year, “Combat” (the tank/biplane game) on the Atari 2600 was the last game my dad played - he plays golf on the Wii now ;)
Posted by Betty_Swallocks - Wed 02 Jan 2008 14:20
It's only a name tbh. The current company has nothing to do with the original Atari afaik.
Posted by Jay - Wed 02 Jan 2008 14:36
Will this be a possible 3rd time Atari has gone bust?
Posted by kalniel - Wed 02 Jan 2008 23:00
I'll just repeat myself for all the people worrying about the name ;) Infogrames will not let the name die. If Atari Inc goes under then so what? Atari the name is still alive in Atari UK ltd, Atari Europe SASU, Atari Interactive and of course the Atari trademark :p