From Nasdaq..................
4330. Suspension or Termination of Inclusion of a Security and Exceptions to Inclusion Criteria
(a) Nasdaq may, in accordance with Rule 4800 Series, deny inclusion or apply additional or more stringent criteria for the initial or continued inclusion of particular securities or suspend or terminate
the inclusion of an otherwise qualified security if:
(1) an issuer files for protection under any provision of the federal bankruptcy laws;
(2) an issuer's independent accountants issue a disclaimer opinion on financial statements required to be certified; or
(3) Nasdaq deems it necessary to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, or to protect investors and the public interest.
(b) Should Nasdaq determine that a security's inclusion shall be suspended or terminated because
of its noncompliance with the provisions of Rule 4310 or Rule 4320 or by the operation of paragraph
(a)(1), (2) or (3) of this Rule, Nasdaq shall so notify the issuer prior to suspension or termination or
as soon as practicable thereafter.
(c) Nasdaq may request any additional information or documentation, public or non-public, deemed
necessary to make a determination regarding a security's initial or continued inclusion, including,
but not limited to, any material provided to or received from the Commission or other appropriate
regulatory authority. Information requested pursuant to this subparagraph shall be submitted within
a reasonable period.
(d) Nasdaq may make exceptions to the application of the criteria contained in Rule 4310 or Rule
4320 where it deems it appropriate.
(e) A security that has been suspended shall be required, prior to re-inclusion, to comply with
requirements for continued inclusion. A security that has been terminated shall be required, prior to
re-inclusion, to comply with the requirements for initial inclusion.
*Note - they can come back even if terminated.
(f) Securities issued in connection with the merger, consolidation, or other type of acquisition of at
least one issuer of qualifying securities shall be promptly included in Nasdaq, provided that the
conditions of Rule 4310(c) or Rule 4320(e) for securities that have already been included are
satisfied. Nasdaq shall require a Nasdaq SmallCap Market issuer to comply with all applicable
requirements for initial inclusion under this Rule 4300 Series and shall require a Nasdaq National
Market issuer to comply with all applicable requirements for initial inclusion under the Rule 4300
Series and Rule 4400 Series in the event that such issuer enters into a merger, consolidation, or
other type of acquisition with a non-Nasdaq entity (including domestic and foreign corporations and
limited partnerships), which results in a change of control and either a change in business or
change in the financial structure of the Nasdaq SmallCap Market or Nasdaq National Market issuer.
|
