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Nasdaq Approves Ixia Compliance Plan

Joel Russel
By Joel Russel
4

A plan by Ixia for regaining compliance with Nasdaq listing rules has been accepted by the exchange. The Calabasas maker of network testing equipment and software ran into trouble after it failed to report its third-quarter results last year. During the quarter, the company’s chief executive unexpectedly resigned because of a falsified resume and the company made a $190 million acquisition of Net Optics Inc. The company received a letter Nov. 19 from Nasdaq stating that the company was not in compliance and giving it 60 days to submit a plan. Under the approved plan Ixia disclosed late Thursday, the company has until March 18 to file the quarterly report. Failure to do so could result in a delisting notice of the company’s stock. Shares closed down 22 cents, or 1.7 percent, to $12.79.

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Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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