Summary
Take-Two Interactive Software, Inc. (TTWO) filed an 8-K on September 21, 2006, to report receiving a written Staff Determination letter from The NASDAQ Stock Market on September 19, 2006. The company is not in compliance with NASDAQ Marketplace Rule 4310(c)(14) due to the failure to file its Quarterly Report on Form 10-Q for the period ended July 31, 2006. This delay is attributed to an ongoing internal investigation by a Special Committee of the Board of Directors concerning the company's stock option grants.
Key Highlights
- 1Received notice from NASDAQ indicating non-compliance with listing rules due to failure to file Q2 2006 Form 10-Q.
- 2The non-compliance stems from an ongoing internal investigation into stock option grants.
- 3Securities will remain listed on NASDAQ Global Select Market pending a hearing.
- 4The company intends to request a hearing before a NASDAQ Listing Qualifications Panel to challenge the delisting determination.
- 5Filing of the Form 10-Q is contingent on the conclusion of the internal investigation and subsequent accounting review by the company and its auditors.
- 6A press release dated September 21, 2006, was issued to disclose this information.