Wednesday, June 21, 2006
Semtech Faces Delisting
Camarillo-based Semtech is facing a possible delisting on the Nasdaq, the company said today. Semtech said that it received a Staff Determination letter from the Nasdaq last week indicating that it is subject to delisting because it has not yet filed its Form 10-Q for the fiscal quarter ended April 30th. Semtech has requested a hearing from the Nasdaq. Semtech is one of the many semiconductor and technology firms that has been caught in a sweeping SEC inquiry over stock option grant practices. Semtech earlier delayed its 10-Q filing after launching an internal review of its stock option grants.