According to Reuters, television programming guide provider Gemstar-TV Guide
International Inc. on Monday said it had received a notice from the Nasdaq that
it is subject to delisting for late filing of its quarterly report.
Gemstar shares plunged on the news, falling 18.3 percent, or 82 cents, to
$3.66 in after-hours trade on Instinet from a close of $4.48 on Nasdaq.
Pasadena, California-based Gemstar said it received a notice that because it
has not yet filed its quarterly report with the U.S. Securities and Exchange
Commission its shares are subject to being removed from the exchange.
Gemstar did not say exactly when it received the notice, but said it
requested a hearing before a Nasdaq panel last Friday to appeal the
The company also said it has been assured its stock will not be de-listed
prior to the hearing, which could be any time within 30 days of the company's