NASDAQ Hearing Scheduled for ScanSource
01 12월 2006 - 6:30AM
Business Wire
ScanSource, Inc. (NASDAQ: SCSC), announced today that, in response
to the Company�s request for a hearing before the NASDAQ Listing
Qualifications Panel (the �Panel�), NASDAQ has scheduled a hearing
for January 11, 2007. The Company requested the hearing in response
to the receipt by the Company of a NASDAQ Staff Determination
letter indicating that the Company is not in compliance with the
filing requirements for continued listing as a result of the
delayed filing of the Company�s Form 10-Q for the quarter ended
September 30, 2006. Under NASDAQ rules, pending a decision by the
Panel, the Company�s common stock will remain listed on the NASDAQ
Stock Market. The Company was notified on November 27, 2006 that a
shareholder derivative action was filed on November 21, 2006 in the
United States District Court for the District of South Carolina,
Greenville Division by a purported shareholder of the Company,
derivatively on behalf of the Company, against certain present or
former directors or officers of the Company and, nominally, against
the Company, asserting various causes of action in connection with
alleged backdating of certain stock option grants. As previously
disclosed, the Company�s Board of Directors has appointed a Special
Committee to conduct a review of the Company�s stock option grant
practices and related accounting issues from the time of its
initial public offering in 1994 to the present. Certain statements
contained in this release are forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
address the Company�s plans, activities or events which the Company
expects will or may occur in the future. Various risks,
uncertainties and other factors could cause actual results to
differ materially from those expressed in any forward-looking
statements, including, but not limited to, the timing and outcome
of the review being conducted by the Special Committee of the
Company's Board of Directors. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this release. The Company does not undertake
to publicly update or revise these forward-looking statements even
if experience or future changes make it clear that projected
results expressed or implied in such statements will not be
realized, except as may be required by law. About ScanSource, Inc.
ScanSource, Inc. is a leading international distributor of
specialty technology products. The Company markets specialty
technologies through�five sales units: ScanSource (automatic
identification and data capture�(AIDC) and point-of-sale (POS)
products);�Catalyst Telecom�(Avaya communications products);
Paracon�(communications�products);�T2 Supply (video conferencing
and telephony products); and ScanSource Security
Distribution�(electronic security products). ScanSource serves the
North America marketplace and has an international segment, which
sells AIDC and POS products, in Latin America and Europe. Founded
in 1992, the company ranks #982 on the Fortune 1000. For more
information, call the toll-free sales telephone number at
800.944.2432 or visit www.scansource.com. ScanSource, Inc. (NASDAQ:
SCSC), announced today that, in response to the Company's request
for a hearing before the NASDAQ Listing Qualifications Panel (the
"Panel"), NASDAQ has scheduled a hearing for January 11, 2007. The
Company requested the hearing in response to the receipt by the
Company of a NASDAQ Staff Determination letter indicating that the
Company is not in compliance with the filing requirements for
continued listing as a result of the delayed filing of the
Company's Form 10-Q for the quarter ended September 30, 2006. Under
NASDAQ rules, pending a decision by the Panel, the Company's common
stock will remain listed on the NASDAQ Stock Market. The Company
was notified on November 27, 2006 that a shareholder derivative
action was filed on November 21, 2006 in the United States District
Court for the District of South Carolina, Greenville Division by a
purported shareholder of the Company, derivatively on behalf of the
Company, against certain present or former directors or officers of
the Company and, nominally, against the Company, asserting various
causes of action in connection with alleged backdating of certain
stock option grants. As previously disclosed, the Company's Board
of Directors has appointed a Special Committee to conduct a review
of the Company's stock option grant practices and related
accounting issues from the time of its initial public offering in
1994 to the present. Certain statements contained in this release
are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements address the Company's plans,
activities or events which the Company expects will or may occur in
the future. Various risks, uncertainties and other factors could
cause actual results to differ materially from those expressed in
any forward-looking statements, including, but not limited to, the
timing and outcome of the review being conducted by the Special
Committee of the Company's Board of Directors. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. The
Company does not undertake to publicly update or revise these
forward-looking statements even if experience or future changes
make it clear that projected results expressed or implied in such
statements will not be realized, except as may be required by law.
About ScanSource, Inc. ScanSource, Inc. is a leading international
distributor of specialty technology products. The Company markets
specialty technologies through five sales units: ScanSource
(automatic identification and data capture (AIDC) and point-of-sale
(POS) products); Catalyst Telecom (Avaya communications products);
Paracon (communications products); T2 Supply (video conferencing
and telephony products); and ScanSource Security Distribution
(electronic security products). ScanSource serves the North America
marketplace and has an international segment, which sells AIDC and
POS products, in Latin America and Europe. Founded in 1992, the
company ranks #982 on the Fortune 1000. For more information, call
the toll-free sales telephone number at 800.944.2432 or visit
www.scansource.com.
ScanSource (NASDAQ:SCSC)
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ScanSource (NASDAQ:SCSC)
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