& cplSiteName &

Nasdaq to Delist Sonus

Light Reading
News Analysis
Light Reading
8/12/2004
50%
50%

Shares of Sonus Networks Inc. (Nasdaq: SONSE) fell fast this morning, as the company announced that its stock was going to be delisted by Nasdaq starting tomorrow.

The switch maker's stock had fallen $0.28 (6.86%) to $3.80 in early afternoon trading on Thursday. The stock has lost 51 percent of its value since January 2.

The company's financial troubles -- and its delay in restating past quarterly earnings -- caused Nasdaq to go through with a delisting, even after the exchange had granted the company some leeway regarding filing deadlines. Sonus shares will likely be quoted on the National Quotation Service Bureau (the "Pink Sheets") until the shares become eligible for trade on the OTC Bulletin Board, Sonus says.

"Our rules require the company to notify the public of decisions such as this," says a Nasdaq spokesman. "Our policy prohibits us from providing additional comment."

Sonus is still trying to right itself after a searing financial scandal that has already led to the dismissal of the company's CFO. Sonus did not respond to requests for comment.

For some summertime reading on the saga, please review our coverage of Sonus from the past few months:



— Phil Harvey, News Editor, Light Reading

(4)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Sibylle
50%
50%
Sibylle,
User Rank: Light Beer
12/5/2012 | 1:22:18 AM
re: Nasdaq to Delist Sonus
Wasn't it you guys who, not too long ago, referred to SONET chips as 'sexy' ? And now that oh-so-delicious adjective is being applied to the 'National Association of Securities Dealers Automated Quotations' (NASDAQ). Get a life guys. Really.

I fear for the species....
Larry, Monkey
50%
50%
Larry, Monkey,
User Rank: Light Beer
12/5/2012 | 1:22:17 AM
re: Nasdaq to Delist Sonus
It's a cry for help.
zoinks!
50%
50%
zoinks!,
User Rank: Light Beer
12/5/2012 | 1:22:12 AM
re: Nasdaq to Delist Sonus
So when does the executive team get "de-listed" from Sonus? Axing the CFO doesn't appear to solve the problem.

Zoinks!
zillionaire
50%
50%
zillionaire,
User Rank: Light Beer
12/5/2012 | 1:22:10 AM
re: Nasdaq to Delist Sonus
yyyyaaaaawwwwwnnnnn.....
Featured Video
From The Founder
Light Reading founder Steve Saunders grills Cisco's Roland Acra on how he's bringing automation to life inside the data center.
Flash Poll
Upcoming Live Events
March 20-22, 2018, Denver Marriott Tech Center
March 22, 2018, Denver, Colorado | Denver Marriott Tech Center
March 28, 2018, Kansas City Convention Center
April 4, 2018, The Westin Dallas Downtown, Dallas
April 9, 2018, Las Vegas Convention Center
May 14-16, 2018, Austin Convention Center
September 25-27, 2018, Denver, Colorado
October 2, 2018, The Westin Times Square, New York
October 22, 2018, Georgia World Congress Centre, Atlanta, GA
November 8, 2018, The Montcalm by Marble Arch, London
November 29, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
Sprint Says No to mmWave, Yes to Mobile 5G
Dan Jones, Mobile Editor, 1/11/2018
Altice USA Embraces Home-Alone Strategy
Alan Breznick, Cable/Video Practice Leader, Light Reading, 1/11/2018
Trump Says Foxconn Will Make iPhones in US
Dan Jones, Mobile Editor, 1/15/2018
Huawei, ZTE Face US Federal Ban
Iain Morris, News Editor, 1/15/2018
Analyst: Verizon's Fixed 5G Is a Loss Leader for Mobile
Dan Jones, Mobile Editor, 1/16/2018
Animals with Phones
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed