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May 6, 2014
08:35 EDTXXIAIxia receives expected Nasdaq letter
Ixia announced that on May 2,and as expected, the company received a letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC stating that unless the company requests on or before May 9 a hearing before a Nasdaq Listing Qualifications Panel, the company’s common stock will be delisted due to the company’s non-compliance with Nasdaq Listing Rule 5250(c)(1). The Rule requires listed companies to timely file all required periodic financial reports with the SEC. The letter was issued in accordance with standard Nasdaq procedures because of the company’s previously reported delay in filing its Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 and Annual Report on Form 10-K for the fiscal year ended December 31, 2013. The company plans to timely request a hearing before a Hearings Panel, and the request will automatically stay the delisting of the company’s common stock on the Nasdaq Global Select Market for a period of 15 days after the deadline for the hearing request. The company plans in its hearing request to also request that delisting be stayed beyond the 15-day period until such time as the hearing has been held and the Hearings Panel has made its decision.
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