Immersion (IMMR) Receives Non-Compliance Notification From NASDAQ
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Immersion Corporation (NASDAQ: IMMR) received a letter from the NASDAQ Stock Market ("NASDAQ") stating that Immersion violated NASDAQ Marketplace Rule 5250(c)(1) as a result of its delayed filing of its Quarterly Report on Form 10-Q for the period ended September 30, 2009.
Immersion has 60 calendar days, or until January 11, 2010, to submit to NASDAQ a plan to regain compliance with the NASDAQ listing rules. Immersion intends to submit a plan to regain compliance within this 60-day period. If NASDAQ accepts Immersion's plan, Immersion will have until February 8, 2010 to regain compliance. If NASDAQ does not accept Immersion's plan, Immersion will have the opportunity to appeal that decision to the Hearings Panel.
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