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Pegasus Regains Compliance to Trade on NASDAQ

Jan 5, 2005  •  Post A Comment

Pegasus Communications, a satellite and broadcasting company that once was a reseller of DirecTV services to rural customers, on Wednesday said its shares will resume trading on the NASDAQ National Market, after the company won its appeal to a proposed delisting of its shares.

The Bala Cynwyd, Pa.-based company was informed in September that it faced delisting after Pegasus disclosed in a filing with the Securities and Exchange Commission that its independent auditors had not completed a review of the company’s investment in a series of limited partnerships.

NASDAQ said the failure to complete the analysis violated NASDAQ rules and gave notice of the pending delisting and changed the company’s trading symbol to “PGTVE,” pending the outcome of any appeals filed by the company.

However, the company appealed NASDAQ’s ruling and this week was informed that it had regained compliance to remain listed on that NASDAQ National Market. The company will return to trading under the symbol “PGTV” starting Jan. 7.