Monday, August 21, 2006

Broadcom Gets Delisting Notice

Irvine-based Broadcom has received a delisting notice from the Nasdaq, the firm reported in a filing Friday. Broadcom said in an 8-K filing Friday that the firm has received a Staff Determination notice from the Nasdaq, saying that the firm's stock is subject to delisting. The notice is a result of the firm's delay in filing its 10-Q quarterly report, for the three months ended June 30. Broadcom delayed its 10-Q because of an ongoing review of its stock options awards, and a pending restatement. Broadcom is one of the electronics firms that have been swept up in a widespread industry scandal over stock option grant practices.