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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: Bridge Player who wrote (42786)6/7/2008 10:31:02 AM
From: blind-geezer  Read Replies (1) of 42804
 
MRV is presently uncertain as to the amount of time that will be required to conduct and complete the review, to assess the impact of these matters for tax purposes and on its ongoing operations or to restate its financial statements. Similar reviews or investigations by other companies into their option practices and accounting have typically spanned lengthy periods and resulted in failures to file their quarterly and annual reports required under the Securities and Exchange Act of 1934 timely, thereby violating the continued listing requirements of the stock exchanges upon which their securities are traded, and jeopardizing the continued listing of such companies’ securities on the exchanges. If the special committee’s review into MRV’s option practices and related accounting does extend over a number of months, and, for example, inhibits MRV’s ability to file its Form 10-Q for the quarter ending June 30, 2008 or its future periodic or annual reports required under the Exchange Act, or if the matters being announced today and the ongoing uncertainties flowing from this announcement or future developments depress the bid price of MRV’s shares below the minimum of $1.00 per share for 30 consecutive business days, MRV would face such consequences with respect to the continued listing of its shares on the Nasdaq Global Market.

sounds like it is heading for delisting ...
you think the institutions are getting out !!!
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