Cygne Receives NASDAQ Notice Letter
July 22 2008 - 3:24PM
Business Wire
Cygne Designs, Inc. (NASDAQ: CYDS) today announced that it received
a Nasdaq Staff Deficiency Letter on July 16, 2008. Nasdaq had
previously notified the Company on January 14, 2008 that it had
failed to comply with the minimum bid price requirement for
continued listing set forth in Marketplace Rule 4310(c)(4) for the
previous 30 consecutive days. Pursuant to Nasdaq Marketplace Rule
4310(c)(8)(D), the Company was provided 180 calendar days to regain
compliance. The Company did not regain compliance within the
prescribed period and is not eligible for an additional 180 day
compliance period. Accordingly, unless the Company requests an
appeal of the determination, trading of the Company�s common stock
will be suspended at the opening of business on July 25, 2008 and
the Company�s securities will be removed from listing and
registration on The Nasdaq Stock Market. Cygne Designs, Inc. is a
designer, merchandiser, manufacturer and distributor of branded and
private label women�s denim, casual and career apparel and men�s
denim apparel with sales to retailers located in the United States.
Statements contained in this press release, which are not
historical facts, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
All forward-looking statements are subject to risks and
uncertainties, which could cause actual results to differ from
those projected. Such risks and uncertainties are discussed more
fully in the Company�s Annual Report on Form 10-K for the year
ended January�31, 2008 and the Company�s other filings with the
Securities and Exchange Commission.
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