News

2 July 2008

 

Kopin returns to Nasdaq compliance after filing Q1 report

Last week Kopin Corp of Taunton, MA, USA, which makes GaAs heterojunction bipolar transistor (HBT) epiwafers and liquid-crystal CyberDisplays, said it had been notified by the Nasdaq Office of General Counsel that its filing delinquency has been resolved after it filed its first-quarter 2008 Form 10-Q financial report with the Securities and Exchange Commission (SEC).

Kopin had delayed the filing pending its review of a Request for Mediation made by a customer, a privately held company based in the European Union that had made claims relating to certain representations and actions of an employee of a Kopin subsidiary. Kopin said that it was conducting an investigation relating to the claims.

Kopin subsequently received a Nasdaq Staff Determination letter on 19 May indicating that it was not in compliance with Marketplace Rule 4310(c)(14) , and threatening delisting from The Nasdaq Stock Market on 28 May unless Kopin requested a hearing. Following an appeal by Kopin at the hearing before the Nasdaq Listing Qualifications Panel, on 29 May delisting was stayed pending the final outcome of a hearing scheduled for 17 July before the Nasdaq Hearings Panel.

Now that Kopin is up to date with its SEC filings and therefore back in compliance, the hearing has been cancelled.

See related items:

Kopin given stay of delisting from Nasdaq

Nasdaq sends Kopin Q1 report delinquency notice

Kopin grows 61% year-on-year

Kopin files delayed reports with SEC

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