Atari gets Nasdaq delisting notice
Atari said it received a delisting notice from Nasdaq. The struggling video game maker said it received a “staff determination letter” from Nasdaq that it isn’t compliant with exchange’s rules and is therefore subject to delisting.
In December, the company had received a notice saying that it needed to have a market capitalization of $15 million in the 10 days preceding March 20 in order to be compliant. This is an ill omen for the Electronic Arts veteran David Gardner now heading Atari, as well as Phil Harrison, the former head of Sony’s worldwide game development who joined Atari last month as head of game development. (our coverage).
Atari plans to appeal, noting that its French parent Infogrames Entertainment plans to acquire all of the outstanding shares of the U.S. division.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.