OCZ Received Anticipated Nasdaq LetterFailure to timely file annual report on Form 10-K
This is a Press Release edited by StorageNewsletter.com on 2013.05.23
OCZ Technology Group, Inc. announced that, as anticipated, the company received a letter from the Staff of the Listing Qualifications Department of The NASDAQ Stock Market LLC indicating that, based upon the company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended February 28, 2013 with the SEC, as required by NASDAQ Listing Rule 5250(c)(1), the additional filing deficiency would be considered by the Listing Qualifications Panel in rendering a determination regarding the company's request for continued listing on NASDAQ.
As previously reported, the company has not yet filed its Forms 10-Q for the fiscal quarters ended August 31, 2012 and November 30, 2012, or the restatement of its financial statements included in its Form 10-K for the fiscal year ended February 29, 2012 and its Form 10-Q for the fiscal quarter ended May 31, 2012 with the SEC, as required. The company has presented its plan to regain compliance with the Filing Requirements before the Panel at which it requested additional time within which to do so. The NASDAQ Hearings Panel has granted the company's request to extend the stay of the suspension of trading of the company's common stock pending the final determination regarding the company's listing status.