Harris Interactive® Receives Notification Regarding Non-Compliance with Nasdaq’s Minimum Bid Price Requirement
September 21 2009 - 9:00AM
Business Wire
Harris Interactive (NASDAQ: HPOL), a leading global custom
market research firm, today announced that on September 15, 2009,
it received a letter from The Nasdaq Stock Market advising that,
for the previous 30 consecutive business days, the bid price of the
Company’s common stock had closed below the minimum $1.00 per share
requirement for continued inclusion on The Nasdaq Global Market
pursuant to Nasdaq Marketplace Rule 5450(a)(1) (the “Minimum Bid
Price Rule”). This notification has no effect at this time on the
listing of the Company’s common stock, which will continue to trade
on The Nasdaq Global Select Market under the symbol HPOL.
Nasdaq stated in its letter that, in accordance with Nasdaq
Marketplace Rule 5810(c)(3)(A), the Company will be provided a
grace period of 180 calendar days, or until March 15, 2010, in
which to regain compliance. If at any time before March 15, 2010,
the bid price of the Company’s common stock closes at $1.00 per
share or more for a minimum of 10 consecutive business days, Nasdaq
will provide written notification that it has achieved compliance
with the Minimum Bid Price Rule.
If the Company does not regain compliance with the Minimum Bid
Price Rule by March 15, 2010, Nasdaq will provide written
notification to the Company that the Company's common stock is
subject to delisting. At that time, the Company may appeal Nasdaq's
delisting determination to a Nasdaq Listing Qualifications Panel (a
“Nasdaq Panel”). Alternatively, the Company may apply to transfer
its securities to The Nasdaq Capital Market, provided that it meets
the initial listing standards, with the exception of bid price, as
set forth in Nasdaq Marketplace Rule 5505. If the Company were to
elect to apply for such transfer and if it satisfies the applicable
requirements and its application is approved, the Company will be
afforded an additional 180 calendar day period in order to regain
compliance with the Minimum Bid Price while on The Nasdaq Capital
Market. If the application is not approved, Nasdaq will provide
written notification that the Company’s securities will be
delisted. At that time, the Company may appeal the delisting
determination to a Nasdaq Panel.
The Company intends to actively monitor the bid price for its
common stock between now and March 15, 2010, and will consider
available options to resolve the deficiency and regain compliance
with the Minimum Bid Price Rule.
Cautionary Note Regarding Forward Looking Statements
Certain statements in this press release constitute
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. These statements include, among others, statements as to
future economic performance, projections as to financial items,
estimates, and plans and objectives for future operations, products
and services. In some cases, you can identify forward-looking
statements by terminology such as, “may”, “should”, “expects”,
“plans”, “anticipates”, “feel”, “believes”, “estimates”,
“predicts”, “potential”, “continue”, “consider”, “possibility”, or
the negative of these terms or other comparable terminology. These
forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from those in the forward looking statements. Such risks and
uncertainties include, without limitation, risks detailed in the
“Risk Factors” section of the Company’s most recent Annual Report
on Form 10-K, as updated quarterly in our Quarterly Reports on Form
10-Q to reflect additional material risks. The Company has filed
its reports on Forms 10-K and 10-Q with the Securities and Exchange
Commission, and they are available under the Investor Relations
section of our website at www.harrisinteractive.com.
You are urged to consider these factors carefully in evaluating
such forward-looking statements and are cautioned not to place
undue reliance on them. The forward-looking statements are
qualified in their entirety by this cautionary statement.
About Harris Interactive
Harris Interactive is a global leader in custom market research.
With a long and rich history in multimodal research, powered by our
science and technology, we assist clients in achieving business
results. Harris Interactive serves clients globally through our
North American, European and Asian offices and a network of
independent market research firms. For more information, please
visit www.harrisinteractive.com.
©2009 Harris Interactive Inc. All rights reserved.
HPOL - F
Harris Interactive, Inc. (MM) (NASDAQ:HPOL)
Historical Stock Chart
From May 2024 to Jun 2024
Harris Interactive, Inc. (MM) (NASDAQ:HPOL)
Historical Stock Chart
From Jun 2023 to Jun 2024