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IDCC > SEC Filings for IDCC > Form 8-K on 28-May-2009All Recent SEC Filings

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Form 8-K for INTERDIGITAL, INC.


28-May-2009

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

(c) On May 26, 2009, InterDigital, Inc. (the "Company") received a letter of reprimand from the Listing Qualifications Staff of The NASDAQ Stock Market LLC for non-compliance with the majority independent board and independent audit, nominating and compensation committee requirements for continued listing set forth in NASDAQ Listing Rule 5605. The Staff closed the matter upon the issuance of the letter of reprimand in part because the Company took corrective actions promptly after discovering and notifying NASDAQ about the compliance issue.

In a Form 8-K filed on April 30, 2009, InterDigital announced that it had notified NASDAQ of its non-compliance with Listing Rule 5605 and had made changes to its Board of Directors and related committee assignments to restore compliance with the rule.

In reaching its determination to close the matter by issuing the letter of reprimand, the Staff considered, among other things, that the Company "has not demonstrated a pattern of non-compliance." The Staff also noted that "once this compliance issue was discovered by the Company, it was cured in a prompt and effective manner" and that, based on discussions with the Company, the Staff believes that the Company "inadvertently violated the Listing Rules."

In accordance with NASDAQ Listing Rule 5810(b), the Company issued a press release on May 28, 2009 to announce that the Company had received the letter of reprimand. A copy of the press release is attached hereto as Exhibit 99.1.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 InterDigital, Inc. press release dated May 28, 2009.


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