Veraz Networks, Inc. Receives NASDAQ Notice Regarding Minimum Bid Price
19 Marzo 2010 - 2:15PM
Business Wire
Veraz Networks, Inc. (Nasdaq: VRAZ) today announced that on
March 16, 2010, it received a Staff Determination Notice from the
NASDAQ Stock Market (“NASDAQ”), indicating that Veraz has not
regained compliance with the $1.00 minimum bid price requirement
for continued listing set forth in Nasdaq Marketplace Rule
5450(a)(1), and that Veraz’ common stock is, therefore, subject to
delisting from The Nasdaq Global Market. NASDAQ rules permit a
company that has received a delisting notification to request a
hearing with the NASDAQ Listing Qualifications Panel (the “Panel”)
to appeal the staff’s determination to delist its stock. Veraz
intends to request a hearing before the Panel to present the
Company's plan for regaining compliance with Rule 5450(a)(1). The
NASDAQ Notice states that the submission of a hearing request that
is made no later than 4:00 p.m. Eastern Time on March 23, 2010 will
stay the suspension of trading of Veraz' common stock and the
delisting of Veraz' securities pending the Panel's decision. The
Company has submitted such hearing request. There can be no
assurance that the Panel will grant the Company's request for
continued listing.
About Veraz Networks
Veraz Networks, Inc. (NASDAQ: VRAZ - News), is the leading
provider of application, control, and bandwidth optimization
products that enable the evolution to the Multimedia Generation
Network (MGN). Service providers worldwide use the Veraz MGN
portfolio to extend their current application suite and rapidly add
customized multimedia services that drive revenue and ensure
customer retention. The Veraz MGN separates the control, media, and
application layers while unifying management of the network,
thereby increasing service provider operating efficiency. Wireline
and wireless service providers in over 60 countries have deployed
products from the Veraz MGN portfolio, which includes the
ControlSwitch™, Network-adaptive Border Controller, I-Gate 4000
Media Gateways, the VerazView Management System, and a set of
prepackaged applications. For more information regarding the
company, please visit www.veraznetworks.com.
Forward Looking Statements
This press release may contain forward-looking statements
regarding future events that involve risks and uncertainties.
Readers are cautioned that these forward-looking statements are
only predictions and may differ materially from actual future
events or results. These forward-looking statements involve risks
and uncertainties, as well as assumptions that if they do not fully
materialize or prove incorrect, could cause our results to differ
materially from those expressed or implied by such forward-looking
statements. The risks and uncertainties that could cause our
results to differ materially from those expressed or implied by
such forward-looking statements include but are not limited to our
potential success in appealing the NASDAQ delisting notice and
other risks and uncertainties described more fully in our documents
filed with or furnished to the SEC. More information about these
and other risks that may impact Veraz's business is set forth in
Veraz’s Annual Report on Form 10-K for the year ended December 31,
2009 as filed with the SEC. These filings are available on a
website maintained by the SEC at http://www.sec.gov/. All
forward-looking statements in this press release are based on
information available to us as of the date hereof, and we assume no
obligation to update these forward-looking statements.
A copy of this press release can be found on the investor
relations page of Veraz’s website at www.veraznetworks.com.
Veraz Networks and Veraz are registered trademarks of Veraz
Networks, Inc.
VRAZ-IR
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