Friday, May 23, 2008

Lumera Gets NASDAQ Warning

Bothell, Wash.-based Lumera, which develops components for the optical networking market, said late Thursday that the firm has received notice from the NASDAQ Stock Market saying that the firm's equity has dropped to less than the $10M minimum required for continued listing on the NASDAQ Global Market. According to the firm, the letter has no immediate effect on the listing of its Common stock at this time. The firm said it will respond to the NASDAQ's request for a plan to sustain compliance with NASDAQ Global Market listing requirements; if the company fails to regain compliance, the company said it will look to transfer to the NASDAQ Capital Market.