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March 14, 2014
08:46 EDTXXIAIxia receives notice regarding non-compliance with Nasdaq listing rule
Ixia announced that, as expected and due to the previously announced delay in the filing of the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, on March 10, 2014, the company received a notice from The NASDAQ Stock Market LLC notifying the company that it does not comply with Nasdaq Listing Rule 5250(c)(1). Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. The notice was issued in accordance with standard Nasdaq procedures and has no immediate effect on the listing of the company’s common stock. The company previously received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) following its failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2013. The company has until March 18, 2014 to submit to Nasdaq an update to Ixia’s original plan to regain compliance with Listing Rule 5250(c)(1) as submitted to Nasdaq in connection with the Form 10-Q. Ixia intends to submit an updated plan to Nasdaq by the specified deadline.
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