NASDAQ Warns Radio One Of Possible Delisting
March 22, 2007 at 5:45 AM (PT)
THE WASHINGTON POST confirms that RADIO ONE has been warned by the NASDAQ STOCK MARKET that it is in danger of being delisted because it has not filed its 2006 annual fiscal report. The LANHAM, MD-based company said it has requested a hearing, automatically delaying suspension or delisting and allowing it time to complete and file the required report with the Securities and Exchange Commission.
Last month (NET NEWS 2/21), the company notified the SEC that it was reviewing its accounting of stock option grants in its financial reports and expected to have to restate results for 1999-2005. The SEC has launched an informal inquiry of the company's option-granting reporting.