Friday, October 10, 2008

NeoMagic Gets Delisting Notice

Santa Clara-based NeoMagic said Friday that it has received a Nasdaq Staff Determination letter saying that the company no longer complies with requirements for listing on the Nasdaq. The firm said it expects its stock to be suspended from the Nasdaq on October 15th. NeoMagic is in the process of shutting down, and said it does not expect to appeal the delisting. Neomagic said in late September that it was shutting down the firm, and had laid off substantially all of its operations and engineering employees.