Overstock.com Regains Compliance with NASDAQ Listing Rules
By Ina Steiner
Overstock.com announced it received notice from the NASDAQ Stock Market that the company is in compliance with the periodic filing requirement and this matter has been closed. As it had previously reported, it had received a letter on November 19, 2009 from the NASDAQ notifying the company that it had violated NASDAQ Listing Rule 5250(c)(1) when it filed its Quarterly Report on Form 10-Q for the period ended September 30, 2009 because the filing wasn't reviewed in accordance with Statement of Auditing Standards No. 100. In response to a compliance plan submitted by the company, NASDAQ granted an exception to enable the company to regain compliance by May 17, 2010.
With the filing of its Q3 2009 10-Q/A, Overstock.com regained compliance with the NASDAQ's listing rules.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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