logo
Share SHARE
FONT-SIZE Plus   Neg

Saba Receives Non-compliance Letter From Nasdaq - Quick Facts

Saba (SABA) announced that on April 11, 2012, it received from the Listing Qualifications Department of The Nasdaq Stock Market LLC notification of Saba's noncompliance with Nasdaq Listing Rule due to Saba's previously announced delay in filing its Form 10-Q for the period ended February 29, 2012.

The Nasdaq notification letter sets forth that the Company has 60 days to submit a plan to regain compliance. The company said it anticipates that it will file its Form 10-Q within the 60-day period and that it will fully regain compliance with the Nasdaq continued listing requirements upon such filing of its Form 10-Q.

In the event the Company is unable to file its Form 10-Q before the end of such 60-day period, the Company is required to submit to Nasdaq a plan to regain compliance with Nasdaq's continued listing requirements no later than June 11, 2012. If Nasdaq accepts the plan submitted by the Company, Nasdaq can grant an exception to regain compliance up to October 8, 2012, Saba said.

If Nasdaq does not accept the Company's plan, Nasdaq will provide notice that the Company's common stock will be subject to delisting.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
TerraForm Global, Inc., an operator of clean energy power plants, said Monday that it has signed an exclusivity agreement with Brookfield Asset Management Inc. to negotiate a potential business combination between them. Shares of TerraForm Global are gaining more than 6 percent in pre-market activity following the announcement. Fast food giant McDonald's Corp. (MCD) on Monday reported a 1 percent decline in profit for the fourth quarter from last year on lower revenues due to the impact of refranchising. However, both revenue and earnings per share beat analysts' expectations. The Oak Brook, Illinois-based hamburger chain... U.S. authorities are investigating Yahoo Inc. for not disclosing the two massive data breaches sooner to investors, the Wall Street Journal reported, citing people familiar with the matter. It is expected that such a move could help clarify the timeline for companies to reveal such hacks.
comments powered by Disqus
Follow RTT