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Technology Stocks : Asyst Technologies (ASYT) Good Value/Where is the Bottom?
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To: Sultan who wrote (2290)7/7/2006 1:24:44 PM
From: Proud_Infidel   of 2313
 
Asyst Gets Delisting Letter From Nasdaq
Friday July 7, 8:17 am ET
Asyst Technologies Requests Hearing From Nasdaq to Avoid Delisting After Filing Delay

FREMONT, Calif. (AP) -- Asyst Technologies Inc., a maker of technology for semiconductors and flat-panel displays, said Friday it received a letter from Nasdaq stating that the company is not in compliance with listing requirements because it is delinquent in filing its annual report for the fiscal year ended March 31.

Nasdaq has begun a process that could lead to the stock's delisting.

Asyst has requested a hearing with Nasdaq to address the filing delay. The request will postpone delisting pending the hearing and the panel's decision, although the panel will not necessarily find that Asyst should continue to be listed on the exchange.

Asyst delayed filing its annual report because it is in the midst of a widening inquiry into stock-option granting practices by the Justice Department and the Securities and Exchange Commission. On June 9, the board established a special committee to look into Asyst's stock option practices during that period, the company said.

Asyst expects the inquiry to be completed by June 29. Shares closed Thursday at $7.25.
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