Monday, November 26, 2007

Isilon Gets Delisting Warning

Seattle-based Isilon Systems Inc., a manufacturer of clustered storage systems and related software, reported Friday that it received a Nasdaq Staff Determination letter on Wednesday, Nov. 21. The notice, Isilon explained, said the company was in violation of Nasdaq's continued listing requirements because of its delay in filing a Form 10-Q for the quarter ending Sept. 30. Isilon said it plans to request a hearing for continued listing before the Nasdaq Listing Qualifications Panel, and that, pending the panel's decision, its stock will remain listed on the Nasdaq Global Market. The warning comes after the loss of the firm's CEO and CFO late October, and an announcement that it would delay its Q3 quarterly earnings for unspecified reasons.