With
all its fancy new executives, everything appears to be sunshine at the moment for Infogrames/Atari; but for the third time in less than a year Atari has been
threatened with delisting by the Nasdaq stock exchange. The company admits it received a letter from Nasdaq's Listing Qualifications Department stating that it had not gained compliance with
the last warning requiring the company obtain $15 million in market capitalization for 10 consecutive days before March 20.
Atari has asked Nasdaq for a hearing which will put a stay on the stock's execution. Meanwhile, Infogrames is looking to buy the "
outstanding common stock" of the company, which may put this whole issue to rest. If Infogrames does not succeed, Atari admits there's no assurance it won't be delisted.
Reader Comments (Page 1 of 1)
Worst Review Ever @ Mar 27th 2008 2:32AM
Hey guys, I just got a copy of the letter. Here ya go:
Dear Atari,
Fuck you.
Sincerely,
NASDAQ
ThornedVenom (Harley Quinn Defense Force) @ Mar 27th 2008 2:36AM
If Phil Harrison magically manages to resurrect this Titanic, I'll take back all of the mockery I had inflicted upon him while he was working under Sony and fully worship his marketing ass.
jeff @ Mar 27th 2008 6:15AM
When Hasbro owned the Atari brand they couldn't make any money with it either. They sold it to Infogrames and it seems like they couldn't restart the brand name either. It is a great brand name, but it just doesn't have as much pull as it did in the 80's.
JRM @ Mar 27th 2008 8:39AM
I have no faith in Phil Harrison whatsoever. Atari is in a mess that is too big even for Lee Iaccoca to resurrect.