Friday, January 31, 2014

Ixia Reports Progress On Nasdaq Compliance

Calabasas-based network testing equipment and software maker Ixia said late Thursday that the company's plan to regain compliance on the Nasdaq has been accepted by the exchange. According to Ixia, the plan addresses a letter it received from the Nasdaq on November 19th over compliance issues, after Ixia failed to file a 10-Q for the quarter ended September 30th, 2013. Ixia says it now has until March 18th to file a 10-Q, or it may face delisting of its stock. Ixia's woes all trace back to the surprise resignation of its CEO, Vic Alston, back in October, when the company somehow figured out that Alston had fabricated his academic credentials.