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Veeco receives Nasdaq notice of non-compliance

On May 24, Veeco Instruments received the anticipated letter from The NASDAQ Stock Market notifying the company that it has not regained compliance with NASDAQ Listing Rule 5250(c)(1), the continued listing requirement to timely file all required periodic reports with the SEC, and, therefore, that its common stock would be subject to delisting unless the company timely requests a hearing before a NASDAQ Listing Qualifications Panel. Accordingly, the company has requested a hearing before the Panel. At the hearing, the company will present its plan for regaining compliance with the Rule, and request continued listing pending its return to compliance. The hearing request will result in an automatic stay of delisting until at least June 17. Concurrent with the hearing request, the company has asked the Panel to extend the stay until the conclusion of the hearing process.