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News Bite: GigaMedia Faces De-listing

GigaMedia has received a warning from the Nasdaq stock exchange that the software provider faces de-listing as a result of failing to comply with the $1.00 per share minimum price requirement. The Taiwanese company has been given a 180-day period to regain a minimum closing bid of $1.00 or more for 10 consecutive days.  

With a 40% stake in Everest Poker, GigaMedia has faced a series of issues in 2011, including litigation and poor stock performance. Management announced that it will monitor the closing bid of its stock closely during the grace period in order to regain compliance.

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