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Borland Receives Nasdaq Delisting Notice Due to Delayed Form 10-Q |
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CUPERTINO, Calif.--(BUSINESS WIRE)--Borland Software Corporation (NASDAQ:BORL), today announced that on
November 17, 2006, Borland Software Corporation ("Borland")
received a notice from the staff of The Nasdaq Stock Market stating that
Borland is not in compliance with Marketplace Rule 4310(c)(14) because
it has not timely filed its Quarterly Report on Form 10-Q for the
quarter ended September 30, 2006. The notice is automatically generated
by Nasdaq and indicated that, unless Borland requests an appeal of this
determination, trading of Borland's common
stock will be suspended at the opening of business on November 28, 2006.
Borland intends to file its Quarterly Report on Form 10-Q for the
quarter ended September 30, 2006 with the SEC shortly. The Form 10-Q can
be found at http://www.sec.gov when
filed. Borland intends to request a hearing before a Nasdaq Listing
Qualifications Panel (the "Panel")
to appeal the Nasdaq staff's determination.
The hearing request will automatically stay the delisting of Borland's
common stock pending the Panel's decision.
There can be no assurance, however, that the Panel will grant Borland's
request or that Borland's common stock will
not be delisted.
About Borland
Founded in 1983, Borland (NASDAQ: BORL) is a global leader in
application lifecycle management (ALM), providing solutions that make
software delivery a more manageable, efficient and predictable business
process. Borland provides the software, services and training that
enable companies to achieve Software Delivery Optimization and maximize
the business value of software. To learn more about delivering quality
software, on time and within budget, visit http://www.borland.com.
Borland and all other Borland brand and product names are trademarks or
registered trademarks of Borland Software Corporation in the United
States and other countries. All other marks are the property of their
respective owners.
Safe Harbor Statement
This press release contains statements that are forward-looking in
nature, including, without limitation, statements relating to the
potential delisting of Borland's common stock
and the timing of filing of the Form 10-Q for the quarter ended
September 30, 2006. These statements are based on management's
current expectations and are subject to uncertainty and changes in
circumstances. Actual results may vary, perhaps materially, from those
contained or suggested by these statements. Factors that could affect
these statements include, but are not limited to, actions or decisions
of the Panel. More information on risks and uncertainties related to
Borland and its business may be found in its quarterly and annual
reports filed with the United States Securities and Exchange Commission.
Borland assumes no obligation and does not intend to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Information contained in our website is not
incorporated by reference in, or made part of this press release.
Contacts
Borland Software
Michelle Swan, 408-863-2962
michelle.swan@borland.com
or
The
Blueshirt Group for Borland
Erica Abrams, 415-217-5864 (Investor)
erica@blueshirtgroup.com
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