Nasdaq Considering Delisting Raining Data
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Software company Raining Data Corp., which announced earlier this month that it was delaying its quarterly report and revising its financial results downward, is facing delisting from Nasdaq. The Irvine company said it will seek a hearing to stave off possible delisting March 4.
In mid-February, Raining Data said it would revise financial results for six quarters to reflect accounting errors related to the company’s acquisition of a company and certain software in 2000.
The stock, which trades on the Nasdaq SmallCap market, closed at $3.10, off 33 cents a share.
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