Summary
Lam Research Corporation (LRCX) has filed an 8-K report to address a notice from Nasdaq regarding non-compliance with continued listing requirements due to a delayed filing of its Form 10-K for the fiscal year ended June 24, 2007. The company is proactively requesting a hearing before the Nasdaq Listing Qualifications Panel to present its case. Investors should be aware that while this notice indicates a procedural issue with listing compliance, Lam Research expects its shares to remain listed on the Nasdaq Stock Market pending the Panel's decision. The company has attached the relevant press release to this filing, which provides further details on the situation and its proactive steps.
Key Highlights
- 1Lam Research received a Nasdaq Staff Determination letter indicating non-compliance with continued listing requirements.
- 2The reason for non-compliance is the delayed filing of the Company's Form 10-K for the fiscal year ended June 24, 2007.
- 3The Company will request a hearing before the Nasdaq Listing Qualifications Panel.
- 4Lam Research expects its shares to remain listed on the Nasdaq Stock Market pending the Panel's decision.
- 5The filing includes an attached press release dated August 29, 2007, detailing the situation.
- 6Martin B. Anstice, Senior Vice President, Chief Financial Officer, and Chief Accounting Officer, signed the filing.
Frequently Asked Questions
Lam Research filed this 8-K to report receiving a notice from Nasdaq indicating that the company is not in compliance with listing requirements due to the delayed filing of its annual Form 10-K for the fiscal year ended June 24, 2007.
No, not immediately. The company has requested a hearing before the Nasdaq Listing Qualifications Panel. Pending the outcome of this hearing and the Panel's decision, Lam Research expects its shares to remain listed on the Nasdaq Stock Market.
Lam Research is proactively engaging with Nasdaq by requesting a hearing before the Listing Qualifications Panel. They are addressing the delay in their Form 10-K filing as the primary reason for the notice.
The 8-K filing includes Exhibit 99.1, which is the full text of the press release issued by Lam Research on August 29, 2007, providing further details on the Nasdaq notice and the company's response.