Please stop all the cheer leading, all you boiler room pumpers have until Thursday.
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 9, 2012, Trident Microsystems, Inc. ("Trident" or the "Company") received a letter from the Listing Qualifications Staff of The NASDAQ Stock Market LLC (the "Staff") stating that the Staff has determined that the Company's securities will be delisted from The Nasdaq Stock Market. The letter states that the delisting notice was issued as a result of Trident's announcement that it has filed for bankruptcy reorganization, and that the letter was issued pursuant to Rules 5101, 5110(b), and IM-5101-1.
Unless the Company requests an appeal of this determination as described below, trading of the Company's common stock will be suspended at the opening of business on January 19, 2012. The Company does not plan at this time to file an appeal and expects the de-listing to occur on January 19, 2012.
After trading terminates on NASDAQ, the Company's securities will not necessarily be eligible for trading in the pink sheets. The securities may become eligible if a market maker makes application to register in and quote the security in accordance with SEC Rule 15c2-11, and such application (a "Form 211") is cleared. The Company can not make such application and the Company can not predict whether a market maker will make such application.