Veraz Networks, Inc. Regains Compliance with NASDAQ Minimum Bid Price Rule
20 Abril 2010 - 3:45PM
Business Wire
Veraz Networks, Inc. (NASDAQ: VRAZ) announced today that it had
received notice from The NASDAQ Stock Market (“NASDAQ”) confirming
that Veraz has regained compliance with the $1.00 minimum bid price
requirement for continued listing on The Nasdaq Global Market.
On September 15, 2009, NASDAQ notified the Company that the bid
price of the Company’s common stock had closed at less than $1.00
per share over the previous 30 consecutive business days, and, as a
result, the Company was not in compliance with Listing Rule
5450(a)(1)(“Rule”). Therefore, in accordance with Listing Rule
5810(c)(3)(A), the Company was provided 180 calendar days, or until
March 15, 2010, to regain compliance with the Rule. On March 16,
2010, NASDAQ notified the Company that it had not regained
compliance with the Rule and that its securities would be suspended
from The Nasdaq Global Market on March 25, 2010, unless the Company
requested a hearing. On March 19, 2010, the Company requested a
hearing before a NASDAQ Hearings Panel.
On April 19, 2010, NASDAQ notified the Company that the closing
bid price of the Company’s common stock has been at $1.00 per share
or greater for at least 10 consecutive business days. Accordingly,
NASDAQ notified the Company that it had regained compliance with
the minimum bid price rule, the NASDAQ hearing has been cancelled
and the matter is now considered closed.
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(TM), 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.
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.
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