Atari Risks Delisting For The Third Time
March 26th, 2008 by Brian Lockhart in News
We’ve already reported that Atari was at risk for being delisted from the stock market before, but not surprisingly, they have received their third warning after they were unable to meet the demands set by their previous two warnings. Although everything is not doom and gloom in Atari these days, as some high profile movers and shakers such as Phil Harrison may be able to make a difference, unless the ship is already sunk of course.
Their last warning asked Atari to obtain 15 million dollars in market capitalization in the ten days following March 20th, which naturally they did not do. Atari has asked for a hearing with Nasdaq, but there also exists another option, with Phil Harrison leading the charge at infogamers, and buying up all remaining stock, which would eliminate the problems.
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