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Tech Industry

Autoweb flirts with Nasdaq delisting

Autoweb said Thursday it may be in danger of being delisted from the Nasdaq Stock Market--possibly joining one of hundreds of companies that have slipped off the influential market as the economy cools. Stock in the Santa Clara, Calif.-based online automobile seller will continue to trade on the exchange for now, but management is considering "strategic options to maximize shareholder value"--including acquisition. The company, which received a Nasdaq Staff Determination notice last week, has filed a request for a hearing before the Nasdaq Qualifications Panel to review the staff determination. The hearing is likely to occur in the next 45 days. The company has retained Credit Suisse First Boston as its financial adviser.

    Autoweb said Thursday it may be in danger of being delisted from the Nasdaq Stock Market--possibly joining one of hundreds of companies that have slipped off the influential market as the economy cools. Stock in the Santa Clara, Calif.-based online automobile seller will continue to trade on the exchange for now, but management is considering "strategic options to maximize shareholder value"--including acquisition.

    The company, which received a Nasdaq Staff Determination notice last week, has filed a request for a hearing before the Nasdaq Qualifications Panel to review the staff determination. The hearing is likely to occur in the next 45 days. The company has retained Credit Suisse First Boston as its financial adviser.