Thursday, February 28, 2008
Syntax-Brillian Faces Delisting
High-definition LCD television manufacturer Syntax-Brillian Corp. revealed Thursday that it received a NASDAQ Staff Determination Letter on Friday, Feb. 22, because it failed to comply with the market's listing obligations. Specifically, Syntax-Brillian said it neglected to file in a timely fashion its quarterly report on Form 10-Q for the quarter ending Dec. 31, 2007. As a result, the Tempe, Ariz.-based business noted, it violated NASDAQ Marketplace Rule 4310(c)(14), a fact that could result in the company's stock being de-listed. NASDAQ's letter notified Syntax-Brillian that it could appeal the de-listing determination to a Listing Qualifications Panel. Syntax-Brillian said it has requested such a hearing and added that it expects its shares will remain listed during the appeals process.