PeoplePC, which works with corporations to provide computers as a fringe benefit to workers, said Tuesday that the Nasdaq will allow the company's shares to remain listed. The decision is related to Nasdaq's recent suspension of the minimum bid price and market value requirements. The suspension followed the Sept. 11 terror attacks on the United States and the subsequent plunge of the stock markets.
As a result of Nasdaq's decision, San Francisco-based PeoplePC has canceled its special shareholder meeting on Oct. 29 for a vote on a reverse stock split. PeoplePC first announced in July that it faced delisting because it could not maintain the minimum $1 bid price. On Tuesday, the company's shares were trading around 15 cents.