CALABASAS, Calif.--(BUSINESS WIRE)--Ixia (NASDAQ: XXIA) announced today that The Nasdaq Stock Market LLC (“Nasdaq”) has accepted the company’s plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”), which acceptance will permit the continued listing of Ixia’s common stock on the Nasdaq Global Select Market.
As previously reported, on November 19, 2013, Ixia received a letter from Nasdaq stating that the company is not in compliance with the Rule because the company had not filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 (the “Form 10-Q”) with the Securities and Exchange Commission (the “SEC”). In its letter, Nasdaq notified the company that it had 60 days to submit to Nasdaq a plan to regain compliance with the Rule.
On January 17, 2014, Ixia timely submitted to Nasdaq a plan to regain compliance with the Rule. After reviewing the company’s plan, Nasdaq accepted the plan and granted an exception to enable the company to regain compliance with the Rule. Under the terms of the exception, the company is required to file the Form 10-Q with the SEC on or before March 18, 2014 as required by the Rule. Nasdaq has advised the company that a failure to file the Form 10-Q within the extension period may result in a notice of delisting of the company’s common stock.
Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic, connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia's customers benefit from faster time to market, optimized application performance and higher-quality deployments. Learn more at http://www.ixiacom.com.