Friday, March 20, 2009

Overland Dodges Delisting

San Diego-based Overland Storage is reporting this morning that the firm has been informed by the Nasdaq, that the Nasdaq has withdrawn a notification over the firm's compliance with listing maintenance standards. According to Overland, the Nasdaq says the company currently meets alternative maintenance standards for listing on the exchange. Overland had received a warning--the first step in delisting--from the Nasdaq in February. According to Overland, the compliance came, in part, due to the Nasdaq's suspension of standards relating to minimum bid price and market value of shares, due to the recent drops in the market.

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