Is it fair for the NASDAQ to keep extending and keep hope alive? It's almost like an endorsement that all will be well eventually. I am not saying it won't be good but if this company doesn't make it out of this mess should the exchange be held accountable as well as management in any lawsuits?
it isnt up to nasdq to make sure the company isn't a fraud, all they are is a exchange, it is the SEC that does this. if anything the nasdq should halt any company being investigated by the SEC. as soon as you saw that press release stating ocz may not file on time it gave ocz and nasdq a free pass.
will ocz file? maybe/maybe not. the last press release sounded like all the other ones, so i don't put much faith in it happening.
For NASDAQ to be held liable you would have to prove in court that NASDAQ decision-makers were knowledgeable of illegal OCZ activity or at least activity deemed detrimental to the company or it's shareholders prior to granting extensions. Just my 2 pennies worth.
that was my question too and I was told by the room that NASDAQ isnt responsible for anything and you buy at your own risk regardless of any extensions given so any extensions by NASDAQ mean actually nothing and that nothing shoul d be implied
I'm not sure that is true... it is in nasdaq's best interest to keep ocz on the exchange.. listing fees per year run between 1-2M. but i'm sure they have given progress reports on the audit which was sufficient for their purposes.