MoreCeradyne, Inc. has requested a hearing before the NASDAQ Listing Qualifications Panel in response to the receipt of a NASDAQ Staff Determination letter on August 17, 2006, indicating that Ceradyne is not in compliance with the filing requirements for continued listing as set forth in Marketplace Rule 4310(c)(14). As anticipated, the letter was issued in accordance with NASDAQ procedures due to the delayed filing of the company's Form 10-Q for the quarter ended June 30, 2006. Pending a decision by the panel, Ceradyne's common stock will remain listed on the NASDAQ Stock Market.
A special committee of independent directors was formed to conduct an internal investigation of Ceradyne's historical stock option grants and related accounting treatment. The special committee's investigation is ongoing and, accordingly, Ceradyne was unable to file its Form 10-Q for the quarter ended June 30, 2006, by the required filing deadline. The company is focused on resolving these issues as quickly as possible and plans to file its Form 10-Q following completion of the independent investigation by the special committee.
Additional information is available at www.ceradyne.com.
A special committee of independent directors was formed to conduct an internal investigation of Ceradyne's historical stock option grants and related accounting treatment. The special committee's investigation is ongoing and, accordingly, Ceradyne was unable to file its Form 10-Q for the quarter ended June 30, 2006, by the required filing deadline. The company is focused on resolving these issues as quickly as possible and plans to file its Form 10-Q following completion of the independent investigation by the special committee.
Additional information is available at www.ceradyne.com.
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