Tekelec Receives Delisting Notice

Tekelec receives delisting notice from Nasdaq for failing to file its Form 10-K report for 2005

March 23, 2006

2 Min Read

MORRISVILLE, N.C. -- Tekelec (NASDAQ: TKLC) announced today that because of the previously announced late filing of its Form 10-K for the year ended December 31, 2005, it received on March 20, 2006 a notice from The Nasdaq Stock Market indicating that the Company's common stock is subject to potential delisting from the Nasdaq National Market as a result of the Company's failure to comply with Marketplace Rule 4310(c) (14). This listing standard requires the Company to make on a timely basis all filings with the Securities and Exchange Commission ("SEC"), as required by the Securities Exchange Act of 1934, as amended.

As previously announced in a press release and disclosed in a Form 8-K and Form 12b-25 filed with the SEC on March 17, 2006, the Company was unable to file its Form 10-K for the year ended December 31, 2005 by the prescribed due date of March 16, 2006. The Company also indicated in the Form 12b-25 that it would not file its 2005 Form 10-K by March 31, 2006, but is working expeditiously to file it as soon thereafter as possible.

Receipt of the delisting notice does not result in immediate delisting of the Company's common stock, and the Company intends to request a hearing before a Nasdaq Listing Qualifications Panel for review of the delisting determination. This request will automatically stay the delisting of the Company's common stock pending the Panel's review and decision. Until the Panel issues a decision and the expiration of any exception granted by the Panel, the Company's common stock will continue to trade on the Nasdaq National Market. There can be no assurance, however, that the Panel will grant the Company's request for continued listing or any such exception.


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