Safenet (NASDAQ:SFNT)
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From Jun 2019 to Jun 2024
SafeNet, Inc. (NASDAQ:SFNT) announced today, as expected, that the
Company has received an additional Staff Determination notice from
NASDAQ stating that the Company has failed to timely file its Form 10-Q
for the third quarter ended September 30, 2006 and, therefore, is not in
compliance with NASDAQ Marketplace Rule 4310(c)(14). On November 13,
2006, the Company disclosed that, in connection with the previously
disclosed investigation by the special committee of the board to
investigate the Company’s stock option
granting practices and the audit of the necessary restatements, it would
not be able to file its third quarter of 2006 Form 10-Q. As announced on
August 18, 2006, NASDAQ initially informed the Company that its
securities would be delisted for failure to timely file its Form 10-Q
for the second fiscal quarter ended June 30, 2006, unless the Company
requested a hearing in accordance with applicable NASDAQ Marketplace
rules. The Company subsequently requested and was granted a hearing with
the NASDAQ Listing Qualifications Panel in September 2006. At the
hearing the Company presented a plan to regain compliance with NASDAQ's
filing requirements. The Company's common stock will remain listed on
The NASDAQ Global Select Market pending the issuance of a formal
decision. The Company’s current target is to
make the necessary filings by December 31, 2006, and intends to make an
additional submission to NASDAQ demonstrating the progress being made
towards the December 31, 2006 goal.
SafeNet is working diligently towards remedying its filing delay before
NASDAQ effects the delisting of SafeNet’s
common shares, but SafeNet cannot assure that NASDAQ will grant a
request for continued listing.
About SafeNet, Inc.
SafeNet is a global leader in information security. Founded more than 20
years ago, the company provides complete security utilizing its
encryption technologies to protect communications, intellectual property
and digital identities, and offers a full spectrum of products including
hardware, software, and chips. UBS, Nokia, Fujitsu, Hitachi, ARM, Bank
of America, NetGear, the Departments of Defense and Homeland Security,
Adobe, Samsung, Texas Instruments, the U.S. Internal Revenue Service and
scores of other customers entrust their security needs to SafeNet. For
more information, visit www.safenet-inc.com
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995
The statements contained in this release, which are not historical
facts, are forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934.
These statements are subject to uncertainties that could cause actual
results to differ materially from those set forth in or implied by
forward-looking statements. Important factors that could cause actual
results to differ materially are included but are not limited to those
listed in SafeNet's periodic reports and registration statements filed
with the Securities and Exchange Commission. The Company assumes no
obligation to update information concerning its expectations.
SafeNet, Inc. (NASDAQ:SFNT) announced today, as expected, that the
Company has received an additional Staff Determination notice from
NASDAQ stating that the Company has failed to timely file its Form
10-Q for the third quarter ended September 30, 2006 and, therefore, is
not in compliance with NASDAQ Marketplace Rule 4310(c)(14). On
November 13, 2006, the Company disclosed that, in connection with the
previously disclosed investigation by the special committee of the
board to investigate the Company's stock option granting practices and
the audit of the necessary restatements, it would not be able to file
its third quarter of 2006 Form 10-Q. As announced on August 18, 2006,
NASDAQ initially informed the Company that its securities would be
delisted for failure to timely file its Form 10-Q for the second
fiscal quarter ended June 30, 2006, unless the Company requested a
hearing in accordance with applicable NASDAQ Marketplace rules. The
Company subsequently requested and was granted a hearing with the
NASDAQ Listing Qualifications Panel in September 2006. At the hearing
the Company presented a plan to regain compliance with NASDAQ's filing
requirements. The Company's common stock will remain listed on The
NASDAQ Global Select Market pending the issuance of a formal decision.
The Company's current target is to make the necessary filings by
December 31, 2006, and intends to make an additional submission to
NASDAQ demonstrating the progress being made towards the December 31,
2006 goal.
SafeNet is working diligently towards remedying its filing delay
before NASDAQ effects the delisting of SafeNet's common shares, but
SafeNet cannot assure that NASDAQ will grant a request for continued
listing.
About SafeNet, Inc.
SafeNet is a global leader in information security. Founded more
than 20 years ago, the company provides complete security utilizing
its encryption technologies to protect communications, intellectual
property and digital identities, and offers a full spectrum of
products including hardware, software, and chips. UBS, Nokia, Fujitsu,
Hitachi, ARM, Bank of America, NetGear, the Departments of Defense and
Homeland Security, Adobe, Samsung, Texas Instruments, the U.S.
Internal Revenue Service and scores of other customers entrust their
security needs to SafeNet. For more information, visit
www.safenet-inc.com
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995
The statements contained in this release, which are not historical
facts, are forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934.
These statements are subject to uncertainties that could cause
actual results to differ materially from those set forth in or implied
by forward-looking statements. Important factors that could cause
actual results to differ materially are included but are not limited
to those listed in SafeNet's periodic reports and registration
statements filed with the Securities and Exchange Commission. The
Company assumes no obligation to update information concerning its
expectations.