NaviSite Appeals Nasdaq Delisting

March 4, 2009 by · Comments Off on NaviSite Appeals Nasdaq Delisting 

Webmaster NewsANDOVER, Mass. – NaviSite, Inc. (NASDAQ: NAVI) announced today that it has been granted an appeals hearing before the Nasdaq Listing Qualifications Panel (the “Panel”) on April 23, 2009 to present a plan to regain compliance with the Nasdaq Marketplace Rule 4310(c)(3) (the “Rule”) for continued listing of its common stock on the Nasdaq Capital Market.

The Company announced yesterday that it received a notification letter from the Nasdaq Listing Qualifications Staff (the “Staff”) on February 24, 2009, indicating that, unless the Company requested a hearing before the Panel, the Company’s common stock would be delisted because the Company was not in compliance with the Rule. The delisting notice has no effect on the listing of the Company’s common stock at this time. Read more