Altera Granted Continued Nasdaq Listing

Staff Reporter -- Electronic News, 8/2/2006

Amid a deluge of stock option-related troubles, Altera Corp.'s securities have been granted continued listing on the Nasdaq Global Market. 

The company announced Tuesday that a Nasdaq listing qualifications panel had notified it of the continuation. Altera first announced in May that its stock could be subject to delisting from the market.

The company's listing is subject to certain conditions: Altera must filed its Form 10-Q from Q1 with the SEC by September 14 and its Q2 Form 10-Q by September 28, and the company must submit additional information regarding its internal review of its historical stock option practices.

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Click here for more news on the unfolding stock option investigation.

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Altera is making sure that its investors aren't getting too comfortable with the continued listing status. "There can be no assurance that Altera will remain listed unless and until the company can achieve full compliance with all requirements of The Nasdaq Global Market," the company said in its statement.

Altera is not the only company that has faced delisting in the midst of the industry's stock options backdating scandal. The company joins Semtech, Rambus and Power Integrations on the growing list of companies that have been subject to delisting in recent months.