VRSN » Topics » VeriSign Receives Anticipated Letter from Nasdaq

This excerpt taken from the VRSN 8-K filed May 17, 2007.

VeriSign Receives Anticipated Letter from Nasdaq

MOUNTAIN VIEW, CA, May 17, 2007 – VeriSign, Inc. (Nasdaq: VRSN) announced today that it received a Nasdaq Staff Determination letter from The Nasdaq Stock Market on May 11, 2007 stating that VeriSign is not in compliance with the filing requirements under Nasdaq Marketplace Rule 4310(c)(14) due to the delay in filing of its Form 10-Q for the fiscal quarter ended March 31, 2007 (“Q1 10-Q”). As previously announced on March 1, 2007, the Nasdaq Listing and Hearings Review Council (“Listing Council”) notified the Company that the Listing Council has stayed any future determinations to suspend the Company’s securities from trading until the Nasdaq review process has been completed. The Listing Council’s decision to stay any future determinations to suspend the Company’s securities from trading until the review process has been completed also applies to the Company’s failure to timely file its Q1 10-Q. If the Listing Council determines it is appropriate, it may grant the Company additional time to regain compliance with Nasdaq’s filing requirement, until the earlier of 60 days from the date of its decision or 180 days from the date of the Panel’s decision. The Listing Council has not issued a decision in this matter as of the date of this announcement.

VeriSign has previously announced that it must restate its historical financial statements for the years 2002-2005 and for the first quarter of 2006 to record additional non-cash, stock-based compensation expense in connection with the review of historical stock option grant practices conducted by an ad hoc group of independent directors. On January 31, 2007, the Company announced that the ad hoc group of independent directors had substantially completed its review of VeriSign’s historical stock option grants. On May 10, 2007, VeriSign filed a notice with the SEC disclosing that it would be unable to timely file its Q1 10-Q because it had not completed the audit of its restatement, that it intends to file the Q1 10-Q as promptly as practicable after completion of the restatement audit, and that it does not expect that such filing will be made by May 15, 2007, the extended deadline.

About VeriSign

VeriSign, Inc. (NASDAQ: VRSN), operates intelligent infrastructure services that enable and protect billions of interactions every day across the world’s voice and data networks. Additional news and information about the company is available at www.verisign.com.

VRSNF

This excerpt taken from the VRSN 8-K filed Mar 9, 2007.

VeriSign Receives Anticipated Letter from Nasdaq

MOUNTAIN VIEW, CA, March 9, 2007 – VeriSign, Inc. (Nasdaq: VRSN) announced today that it received a Nasdaq Staff Determination letter from The Nasdaq Stock Market on March 5, 2007 stating that VeriSign is not in compliance with the filing requirements under Nasdaq Marketplace Rule 4310(c)(14) due to the delay in filing of its Form 10-K for the fiscal year ended December 31, 2006 (“2006 10-K”). As previously announced on March 1, 2007, the Nasdaq Listing and Hearings Review Council (“Listing Council”) notified the Company that the Listing Council has stayed any future determinations to suspend the Company’s securities from trading until the Nasdaq review process has been completed. The Listing Council’s decision to stay any future determinations to suspend the Company’s securities from trading until the review process has been completed also applies to the Company’s failure to timely file its 2006 10-K. If the Listing Council determines it is appropriate, it may grant the Company additional time to regain compliance with Nasdaq’s filing requirement, until the earlier of 60 days from the date of its decision or 180 days from the date of the Panel’s decision. The Listing Council has not issued a decision in this matter as of the date of this announcement.

VeriSign has previously announced that it must restate its historical financial statements for the years 2002-2005 and for the first quarter of 2006 to record additional non-cash, stock-based compensation expense in connection with the review of historical stock option grant practices conducted by an ad hoc group of independent directors. On January 31, 2007, the Company announced that the ad hoc group of independent directors had substantially completed its review of VeriSign’s historical stock option grants. On March 1, 2007, VeriSign filed a notice with the SEC disclosing that it would be unable to timely file its 2006 10-K because it had not completed the audit of its restatement, that it intends to file the 2006 10-K as promptly as practicable after completion of the restatement audit, and that it does not expect that such filing will be made by March 16, 2007, the extended deadline.

About VeriSign

VeriSign, Inc. (NASDAQ: VRSN), operates intelligent infrastructure services that enable and protect billions of interactions every day across the world’s voice and data networks. Additional news and information about the company is available at www.verisign.com.

VRSNF

This excerpt taken from the VRSN 8-K filed Nov 16, 2006.

VeriSign Receives Anticipated Letter from the Nasdaq

MOUNTAIN VIEW, CA, Nov. 16, 2006 – VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the networked world, announced today that it received a Nasdaq Staff Determination Letter from The Nasdaq Stock Market on November 10, 2006 stating that VeriSign is not in compliance with the filing requirements under Nasdaq Marketplace Rule 4310(c)(14) due to the delayed filing of its Form 10-Q for the quarter ended September 30, 2006. VeriSign received a similar notice on August 14, 2006 due to the delay in filing its Form 10-Q for the second quarter of 2006. On September 26, 2006, VeriSign appeared at a hearing before a Nasdaq Listing Qualifications Panel (“Panel”) and presented a plan for compliance with Nasdaq’s listing requirements, which also contemplated the September 30, 2006 Form 10-Q. Pending a decision by the Panel, VeriSign’s common stock will remain listed on The Nasdaq Global Market.

As previously disclosed, VeriSign’s Board of Directors has commenced an independent review and analysis of VeriSign’s historical stock option grants. VeriSign intends to file its quarterly reports as soon as practicable after completion of its internal review.

This excerpt taken from the VRSN 8-K filed Aug 17, 2006.

VeriSign Receives Anticipated Letter from the Nasdaq

MOUNTAIN VIEW, CA – August 17, 2006 – VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, announced today that it received a Nasdaq Staff Determination letter from The Nasdaq Stock Market on August 14, 2006 stating that VeriSign is not in compliance with the filing requirements under Nasdaq Marketplace Rule 4310(c)(14) due to the delay in filing of its Form 10-Q for the fiscal quarter ended June 30, 2006. VeriSign will request a hearing before a Nasdaq Listing Qualifications Panel (“Panel”) to review the Nasdaq Staff Determination. Pending a decision by the Panel, VeriSign shares will remain listed on the Nasdaq Stock Market.

As previously disclosed, VeriSign’s Board of Directors has commenced an independent review and analysis of VeriSign’s historical stock option grants. VeriSign intends to file its Form 10-Q as soon as practicable after completion of its internal review.

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