Vitesse Semiconductor Corporation has received notice that it could be delisted from the Nasdaq National Market as a result of its failure to file a financial quarterly report. The Camarillo-based semiconductor developer missed the March 31st filing deadline for the 2006 fiscal year. Vitesse recently announced that the financial statements over the last three years should not be relied upon due to misstatements which are still under internal investigation. Vitesse plans to request and participate in a hearing with a Nasdaq qualifications panel in hopes of preventing the delisting. The company said that if it does not meet Nasdaq’s requirements, it may trade on the Pink Sheets stock exchange.
Vitesse Receives Delisting Notice