SouthWest Water Company Receives Expected Notice of Potential Delisting from Nasdaq
15 5월 2009 - 6:18AM
Business Wire
SouthWest Water Company (NASDAQ:SWWC), a leading provider of
water, wastewater and public works services, today said that as
expected, it received a Nasdaq Staff Determination letter on May
12, 2009 indicating that the company's common stock is subject to
potential delisting as of May 21, 2009. The company is not in
compliance with Nasdaq Marketplace Listing Rule 5250(c)(1) due to
its failure to timely file its quarterly reports on Form 10-Q for
the quarters ended September 30, 2008 and March 31, 2009, as well
as its annual report on Form 10K for the year ended December 31,
2008. The delay in filing results is due to the previously
announced restatement of prior period financials.
SouthWest Water intends to request a hearing before a Nasdaq
Listing Qualifications Panel to review the Staff determination. In
its determination letter, Nasdaq informed the company that the
hearing request will stay the delisting of the company's common
stock for an additional fifteen days, or until June 3, 2009. The
company, in its request for a hearing, will also request an
additional stay until it is able to file all of its delinquent
filings to regain compliance.
About SouthWest Water Company
SouthWest Water Company provides a broad range of operations,
maintenance and management services, including water production,
treatment and distribution; wastewater collection and treatment;
customer service; and utility infrastructure construction
management. The company owns regulated public utilities and also
serves cities, utility districts and private companies under
contract. More than a million people in 9 states depend on
SouthWest Water for high-quality, reliable service. Additional
information may be found on the company�s website:
www.swwc.com.
Forward-Looking Statements
This document contains �forward-looking statements� within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements, including expectations relating to the
anticipated timing of SEC filings, involve risks and uncertainties,
as well as assumptions that, if they prove incorrect or never
materialize, could cause the results of the company to differ
materially from those expressed or implied by such forward-looking
statements. Actual results may differ materially from these
expectations due to unexpected developments discovered in the
process of the expanded review of the financial statements and
other factors. The company assumes no obligation to update these
forward-looking statements to reflect any change in future
events.
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