LookSmart Warns Of Delisting

  • October 18, 2005
Vertical search company LookSmart appears to be on the verge of delisting for failure to meet Nasdaq's $1 minimum bid price. At the beginning of the month, the company filed proxy materials with the Securities and Exchange Commission relating to a special meeting of stockholders to seek approval of a proposed reverse stock split. LookSmart, which was notified by letter of the pending delisting, said in a statement that it intends to appeal.

--Gavin O'Malley

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