The Nasdaq has notified i2 Technologies of its intent to delist i2's common stock because the software company is tardy in filing regulatory forms to the Securities and Exchange Commission, i2 said Monday. The late filing of the company's annual 10-K form violates the Nasdaq's listing requirements, i2 added.
The Dallas-based companythat it could be delisted from the Nasdaq exchange after the stock market halted trading of i2 shares at 79 cents a share on news the company would delay its filing as it re-audited its past financial statements. The SEC also had opened a formal investigation into allegations of fraudulent accounting at the company. i2 plans to request a hearing to appeal the delisting. In the meantime, its trading symbol has been changed from ITWO to ITWOE. i2, which makes manufacturing software, rode high on the wave of Internet hype in 2000 when its stock reached an all-time high of $110 in 2000.