Atari Faces Stock Market Delisting

Paperwork not in order. NASDAQ frowns.

Posted by Staff
Atari has been served with a non-compliance notice from the American stock market, NASDAQ, due to the company failing to file an annual report for the financial year ending March 31st 2007 (Form 10-K).

Atari has requested a meeting with the NASDAQ Listing Qualifications Panel to try and resolve the matter.
Atari has stated that its reason for not yet filing Form 10-K is because it is "still determining what, if any, accounting entries it needs to make with respect to certain severance matters."

You may remember that Atari laid off a fifth of its workforce earlier this year, as well as posting a 34.5 million loss for the financial year ending March 31st 2007.

Back in April Infogrames co-founder Bruno Bonnell left Atari as chairman of the board, chief creative officer, and acting chief financial officer.

In other Atari news, watch our for SPOnG's previews of Atari's E3 showing - including Godzilla Unleashed and Jenga for Wii as well as impressive RPG The Witcher. (pictured)

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