Second Nasdaq warning for BEA
Easy come, easy go
Java middleware vendor BEA Systems has received a second warning from Nasdaq over potential delisting of its stock for failing to file financial results.
BEA was warned that it faces delisting, after failing to file results for its third quarter, which ended on October 31, 2006. BEA has until January 8 to get its finances in order.
The warning follows notification that BEA risks delisting, after failing to publish full results for its second quarter, ended on July 31.
The company is a-waiting the results of an internal review of allocations of BEA stock. Like many Silicon Valley companies, it is reviewing grants of stock options to employees see if any were backdated.
BEA says it will publish full results "as soon as practicable" upon completion of the review. In the meantime, it has appealed Nasdaq delisting.®