Atari receives NASDAQ delisting notice

Reuters reports that Atari has received a delisting notice from NASDAQ because it failed to file its financial report for the fiscal year ended March 31.

Two weeks ago, Atari announced that it would report a wider-than-expected loss of USD 71.3 million for the fiscal year ended March 31.

Atari said it hasn't filed the report yet because it is still determining which accounting entries it needs to make, adding that it filed for a hearing with the NASDAQ's listing qualifications panel.

Last year, Atari received a similar delisting notice from NASDAQ when it could not maintain its share price over one dollar for ten consecutive days.