Tuesday, May 6, 2014

Ixia Gets Formal Delisting Warning

Calabasas-based Ixia reported this morning that it has received a letter from the NASDAQ Stock Market, warning the company of delisting, if the company fails to request a hearing on or before May 9th. Ixia said it expected the letter, which comes as a result of the failure by the company to timely file periodic financial reports with the SEC. Ixia has been working on a restatement of its quarterly reports, all of which stem from the sudden discovery that its former CEO, Vic Alston, had fabricated his educational background. Ixia said it plans to submit a timely request for a hearing with the NASDAQ, which will automatically stay the delisting of the company.

---