Atari Inc, Kicked from NASDAQ

After all the warnings and red flags, NASDAQ finally had enough of Atari. Starting May 9th, NASDAQ will suspend any sort of trading of Atari’s shares. Full press release below:

Atari, Inc. (Nasdaq: ATAR), an interactive entertainment company, announced today that on May 7, 2008 it received a letter from The Nasdaq Stock Market stating that a Nasdaq Listing Qualifications Panel has determined to delist Atari, Inc.’s securities from the Nasdaq Global Market and will suspend trading of Atari, Inc.’s shares effective on the opening of business on May 9, 2008. Atari, Inc. plans to request a review from the Nasdaq Listing and Hearing Review Council, which could alter or dismiss the Panel’s determination. However, such a request will not delay the suspension of trading. Atari, Inc. now expects to be quoted on the Pink Sheets, an electronic quotation service maintained by Pink Sheets LLC. The Pink Sheets allow continued trading of securities of delisted companies. Atari, Inc. expects its common stock to be traded on the Pink Sheets under the symbol “ATAR” or “ATAR.PK”. Atari, Inc.’s common stock may also be quoted on the OTC Bulletin Board(R), a regulated quotation service for over-the-counter securities, provided one or more market makers apply to quote Atari, Inc.’s securities.

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Atari, Inc. Appoints Jim Wilson Chief Executive Officer and President

Atari, the financially frail publisher, has announced it has appointed a new CEO and president. Press release below:

Atari, Inc. , an interactive entertainment company, announced today the appointment of Jim Wilson as its Chief Executive Officer (CEO) and President, effective immediately. Mr. Wilson is assuming the responsibilities of CEO which have been overseen by Curtis G. Solsvig III, Atari, Inc.’s Chief Restructuring Officer since October 2007. Read more