Atari said it received a delisting notice from Nasdaq. The struggling video game maker said it received a “staff determination letter” from Nasdaq that it isn’t compliant with exchange’s rules and is therefore subject to delisting.
In December, the company had received a notice saying that it needed to have a market capitalization of $15 million in the 10 days preceding March 20 in order to be compliant. This is an ill omen for the Electronic Arts veteran David Gardner now heading Atari, as well as Phil Harrison, the former head of Sony’s worldwide game development who joined Atari last month as head of game development. (our coverage).
Atari plans to appeal, noting that its French parent Infogrames Entertainment plans to acquire all of the outstanding shares of the U.S. division.
