Thursday, November 20, 2008

Lumera Faces NASDAQ Delisting

Bothell, Washington-based Lumera said Wednesday that it has received another warning letter from the NASDAQ, saying that the firm fails to comply with the minimum stockholders' equity for continued listing on the exchange. The warnings is the second delisting warning for the firm. According to Lumera, its common stock is scheduled to be delisted from the NASDAQ GlobalMarket on November 28th, because it has failed to meet minimum stockholder equity of $10M. The firm said it intends to request a hearing to postpone the move until after its annual meeting, where a proposed merger with GigOptix will be considered.