SAN FRANCISCO Joining a growing list of firms under scrutiny for failing to make regulatory filings in a timely fashion, fabless semiconductor vendor Zoran Corp. said Tuesday (Aug. 15) it has received notification from the Nasdaq marketplace that its stock may be delisted from the exchange.
The company said it would request a hearing before a Nasdaq panel. Pending a hearing by the panel, the company's stock will continue to be traded on the Nasdaq market, Zoran said.
Zoran is one of several companies that has recently it announced it would delay the filing of its 10-Q report with the U.S. Securities and Exchange Commission pending the results on internal reviews of stock options granting practices. Zoran (Sunnyvale, Calif.) said it plans to file its Form 10-Q report "as soon as practicable" following the conclusion of the review.