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AAPL Stock: 107.67 ( + 0.69 )

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Apple to stay listed on Nasdaq

updated 02:30 pm EDT, Fri October 27, 2006

Apple to stay listed

The Nasdaq will continue to list Apple despite the company's failure to file its financial statements for the June quarter of 2006 on time. A report from TheStreet.com details Apple's filing of an 8-K form with the Securities and Exchange Commission today disclosing that the Nasdaq listings qualification panel has granted the company's request to remain listed. Apple must file its 10-Q form for the June quarter along with any restatements by December 29th of this year as part of the extension, however. Apple has said it will restate some past financial statements due to its stock option backdating issues, but said that it will file for an extension if it cannot file the quarterly report by the late December deadline.

"On October 24, 2006, Apple Computer [...] received a written notification from the staff of The Nasdaq Stock Market stating that the Nasdaq Listing Qualifications Panel has granted the Company's request for continued listing on The Nasdaq Stock Market, subject to the condition that the Company shall file its Form 10-Q for the quarter ended July 1, 2006, and any required restatements, by December 29, 2006," Apple said in Friday's SEC filing, which was signed by company CFO Peter Oppenheimer.

"If the Company is unable to file the Form 10-Q by that date, it intends to seek an additional extension of time from the Nasdaq Listing Qualifications Panel," Apple said.




by MacNN Staff

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Comments

  1. testudo

    Joined: Dec 1969

    0

    Shocking!

    And I thought NASDAQ was going to delist one of their main jewels, too.

  1. Fast iBook

    Joined: Dec 1969

    0

    Well..

    Well... If they did de-list aapl for even one day, it would probably reflect in the nasd-AQ's valuation. This would be a bad thing as there are reference stocks such as the qqq which is traded on AMEX. This would also cause other burps as well for apple as a company etc. De-listing a top performer in a rapidly growing/changing sector for something like a foreseen-to-be late quarterly filing would not be in the best interest of the shareholders, or the market(s) in general.

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