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AVID > SEC Filings for AVID > Form 8-K on 20-Nov-2013All Recent SEC Filings

Show all filings for AVID TECHNOLOGY, INC.



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

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

Avid Technology, Inc. (the "Company") announced today that on November 14, 2013 it received an anticipated letter from the staff of the NASDAQ Listing Qualifications Department (the "Staff") noting that the Company was not in compliance with Listing Rule 5250(c)(1) due to its failure to file on a timely basis its Form 10-Q for the quarter ended September 30, 2013. The notification was issued in accordance with NASDAQ procedure, which provides that failure to comply with the rule could serve as a basis for the delisting of the Company's stock from the NASDAQ Global Select Market.
As previously reported, The NASDAQ Stock Market LLC Hearings Panel (the "Panel") granted the Company's request to remain listed on NASDAQ, subject to the condition that the Company is current in the filing of its periodic reports with the Securities and Exchange Commission by March 14, 2014.
In response to the NASDAQ notification, the Company will supply additional information to the Staff and the Panel regarding the Company's ongoing progress with the restatement and its plan of compliance. Item 7.01 Regulation FD Disclosure
The Company issued a press release on November 20, 2013, a copy of which is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. Cautionary Note Regarding Forward-Looking Statements. Except for historical information contained in this Form 8-K and the press release attached as an exhibit hereto, this Form 8-K and the press release contain forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Please refer to the cautionary note in the press release regarding these forward-looking statements.
Item 9.01. Financial Statements and Exhibits.

(d)          Exhibits.
Number  Description
99.1*   Press release November 20, 2013

*Document furnished herewith

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