SAN JOSE, Calif. (AFX) - Altera Corp., a chip maker, said Thursday it has received an additional notice from Nasdaq that a delay in filing its second-quarter results have placed it out of compliance with listing requirements.
The delay stems from an internal review of Altera's stock-option practices. The company also is under investigation by the Securities and Exchange Commission and the Department of Justice. At least 68 other companies are under investigation by the authorities for possible backdating of stock options grants.
Altera also missed its filing deadline for the March quarter, but after a June hearing Nasdaq granted the company's request for continued listing on the condition that it file first-quarter results with the SEC by Sept. 14 and second-quarter results by Sept. 28, and that it submit additional information regarding its internal stock options review.
The company said it expected the new Nasdaq letter, and that there can be no assurance it will remain listed on the Nasdaq.
Shares of Altera closed 17 cents lower at $19.28 on the Nasdaq, then lost another 3 cents to $19.25 in aftermarket activity.
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