Symantec Receives Notification of Deficiency from Nasdaq Related to Delayed Quarterly Report on Form 10-Q
August 13 2018 - 4:15PM
Business Wire
Symantec Corp. (NASDAQ: SYMC) received on August 10, 2018 a
standard notice from Nasdaq stating that, as a result of not having
timely filed its quarterly report on Form 10-Q for the quarterly
period ended June 29, 2018, Symantec is not in compliance with
Nasdaq Listing Rule 5250(c)(1), which requires timely filing of
periodic financial reports with the Securities and Exchange
Commission.
The Nasdaq notice has no immediate effect on the listing or
trading of Symantec’s common stock on the Nasdaq Global Select
Market. As previously announced, Symantec received a notice of
non-compliance from Nasdaq on May 31, 2018 due to delay in the
filing of Symantec’s annual report on Form 10-K for the fiscal year
ended March 30, 2018 (the “Form 10-K”). Under Nasdaq’s listing
rules, Symantec was permitted to submit to Nasdaq a plan to regain
compliance with the Nasdaq Listing Rules. Symantec previously
submitted such a plan to the Nasdaq Staff, and Nasdaq has granted
Symantec until November 26, 2018 to regain compliance.
About Symantec
Symantec Corporation (NASDAQ: SYMC), the world’s leading cyber
security company, helps organizations, governments and people
secure their most important data wherever it lives. Organizations
across the world look to Symantec for strategic, integrated
solutions to defend against sophisticated attacks across endpoints,
cloud and infrastructure. Likewise, a global community of more than
50 million people and families rely on Symantec’s Norton and
LifeLock product suites to protect their digital lives at home and
across their devices. Symantec operates one of the world’s largest
civilian cyber intelligence networks, allowing it to see and
protect against the most advanced threats. For additional
information, please visit www.symantec.com or connect with us on
Facebook, Twitter, and LinkedIn.
Forward-Looking Statements: This press release contains
statements which may be considered forward-looking within the
meaning of the U.S. federal securities laws, including Symantec’s
expectations as to its ability to regain compliance with the Nasdaq
continued listing standards. These statements are subject to known
and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance or achievements
to differ materially from results expressed or implied in this
press release. Such risk factors include, but are not limited to,
risks relating to the ongoing internal investigation by the Audit
Committee, including: (i) the risk that the internal investigation
identifies errors, which may be material, in Symantec’s financial
results, or impacts the timing of Symantec’s filings; (ii) the risk
of legal proceedings or government investigations relating to the
subject of the internal investigation or related matters; (iii) the
timing of the review by, and the conclusions of, Symantec’s
independent registered public accounting firm regarding the
internal review and Symantec’s financial statements; (iv) the risk
that the completion and filing of the Form 10-Q and Form 10-K will
take longer than expected; and (v) the risk that Symantec will be
unable to meet the listing standards for the Nasdaq market. Actual
results may differ materially from those contained in the
forward-looking statements in this press release. Symantec assumes
no obligation, and does not intend, to update these forward-looking
statements as a result of future events or developments. Additional
information concerning these and other risk factors is contained in
the Risk Factors sections of Symantec’s Forms 10-K and Forms 10-Q
filed with the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20180813005142/en/
Symantec CorporationMedia RelationsLauren Armstrong,
650-448-7352Lauren_Armstrong@symantec.comorInvestor
RelationsCynthia Hiponia,
650-527-8020Investor_Relations@symantec.com
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