Luna Innovations Receives Staff Determination Regarding Nasdaq Delisting
17 Julho 2009 - 4:31PM
Business Wire
Luna Innovations Incorporated (NASDAQ:LUNA), a company focusing
on sensing, instrumentation and pharmaceutical nanomedicines, today
received a delisting determination letter from the Nasdaq Stock
Market Listing Qualifications Staff indicating the Listing
Qualifications Staff�s decision to delist Luna�s common stock from
the Nasdaq Global Market pursuant to Nasdaq Marketplace Rules 5101,
5110(b) and IM?5101-1. The determination was made following Luna�s
action to file a voluntary petition for relief under Chapter 11 of
the United States Bankruptcy Code earlier today.
The delisting determination letter further advises Luna that
trading of Luna�s common stock will be suspended at the opening of
business on July�28, 2009 unless it requests a hearing before a
Nasdaq Listing Qualifications Hearing Panel to appeal the proposed
delisting. Luna intends to request a hearing to appeal the proposed
delisting. Luna�s common stock will remain listed on the Nasdaq
Global Market pending the outcome of the hearing.
About Luna Innovations:
Luna Innovations Incorporated (www.lunainnovations.com ) is
focused on sensing and instrumentation, and pharmaceutical
nanomedicines. Luna develops and manufactures new-generation
products for the healthcare, telecommunications, energy and defense
markets. Its products are used to measure, monitor, protect and
improve critical processes. Through its disciplined
commercialization business model, Luna has become a recognized
leader in transitioning science to solutions. Luna is headquartered
in Roanoke, Virginia.
Forward Looking Statements:
This release includes information that constitutes
�forward-looking statements� made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995,
including statements regarding, but not limited to, the company�s
plans to appeal the Listing Qualifications Staff�s determination to
a Listing Qualifications Hearing Panel; the company�s expectations
to remain listed during the appeals process; and the company�s
expectations to regain compliance with the listing qualifications
requirements and standards of the Nasdaq Global Market. The company
attempts, whenever possible, to identify forward-looking statements
by words such as �intends,� �will,� �plans,� �anticipates,�
�expects,� �may,� �estimates,� �believes,� �should,� �projects,� or
�continue,� or the negative of those words and other comparable
words. Similarly, statements that describe the company�s business
strategy, goals, prospects, opportunities, outlook, objectives,
plans or intentions are also forward-looking statements. Actual
events or results may differ materially from the expectations
expressed in such forward-looking statements as a result of various
factors, including risks and uncertainties, many of which are
beyond the company�s control. Factors that could cause actual
results to differ materially from the expectations expressed in
such forward-looking statements include, but are not limited to,
the possibility that the company�s reorganization plan will not be
approved or will be approved in a substantially different form,
substantially affecting the company�s ability to regain compliance
with the listing standards and requirements of the Nasdaq Global
Market; and the possibility that the Nasdaq Listing Qualifications
Hearing Panel will reject the company�s request for continued
listing and delist the company�s common stock from the Nasdaq
Global Market. Additional factors that may affect the future
results of the company are set forth in the company�s quarterly and
annual reports on Form 10-Q and Form 10-K, respectively, and other
filings with the Securities and Exchange Commission (�SEC�), which
are available at the SEC�s website at http://www.sec.gov, and at
the company�s website at http://www.lunainnovations.com. These risk
factors are updated from time to time through the filing of
periodic reports with the SEC. The statements made in this press
release are based on information available to the company as of the
date of this release and Luna Innovations undertakes no obligation
to update any of the forward-looking statements herein after the
date of this press release.
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