Nvidia faces NASDAQ de-listing

Nvidia failed to file its quarterly statement for its last fiscal quarter because it is the subject of a sweeping US Securities and Exchange Commission probe into the practice of options backdating.

The company has said it may have to restate its earnings as far back as 1999 which was the day it held its first public auction. This means it will have to rewrite every earnings report it has ever released to the public for the last seven years.

Nbidia has asked the NASDAQ exchange for a hearing date to plead its case. That petition alone will buy the company time, as it cannot be de-listed under exchange rules until that hearing date.

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