Thursday, May 22, 2014

Ixia Gets Another Nasdaq Delisting Warning

Calabasas-based network testing equipent and software developer Ixia reported late Wednesday that it has received yet another warning from the NASDAQ Stock Market, related to its late filing of its quarterly report for the quarter ended March 31, 2014. The warning letter comes as ixia looks to fend off a delisting of the company's stock. Ixia said it has requested a hearing wih the Nasdaq Listing Qualification Panel on June 12th, to present a plan to regain compliance with the NASDAQ listing rules. Ixia's woes trace back to the suprise discovery that the company's CEO had falsified his resume and qualifications, which triggered an audit and the need for restatements at the company.