Zoo Entertainment, Inc. Appoints a New Audit Committee Member and Regains Compliance With NASDAQ Listing Rule
28 Luglio 2011 - 10:05PM
Marketwired
Zoo Entertainment, Inc. (NASDAQ: ZOOG), a developer, publisher and
distributor of digital interactive entertainment, announced today
that on July 22, 2011, the Company received a deficiency letter
from NASDAQ indicating that the Company did not comply with NASDAQ
Listing Rule 5605(c)(2)(A). This rule requires the Company to have
at least three independent directors on its Audit Committee for
continued listing on The NASDAQ Capital Market.
On July 22, 2011, the Company's Board of Directors appointed
Moritz Seidel, a current independent director of the Company, to
serve on the Audit Committee of the Company thereby curing the
Audit Committee composition deficiency. Accordingly, the Company
regained compliance with NASDAQ's listing rules. The only condition
placed by NASDAQ to consider this matter closed is to make a public
announcement, which is accomplished by this press release.
In addition, the Company announced that it and certain of its
current executive officers have been named as defendants in a class
action lawsuit filed in the United States District Court for the
Southern District of Ohio on July 22, 2011. The complaint alleges
that the Company and certain of its current executive officers
violated the federal securities law by making false material
statements or failing to disclose material information in order to
make the statements not misleading in connection with certain
financial statements of the Company. The Company, the executive
officers and their counsel have not had an opportunity to
thoroughly review the class action complaint.
About Zoo Entertainment Zoo Entertainment
(NASDAQ: ZOOG) is a developer, publisher and electronic distributor
of interactive entertainment for Internet-connected consoles,
handheld gaming devices, PCs, and mobile devices.
Zoo Entertainment's innovative content creation site, indiePub
(www.indiepub.com), was designed to capitalize on opportunities in
the emerging and high growth digital entertainment space. The site
fosters the independent gaming community by playing host to
independent game developers and players and providing developers
with the resources they need to collaborate and create great games.
A destination site for gaming enthusiasts and consumers, indiePub
takes an active role in helping independent developers create
innovative entertainment software. For more information, visit
www.zoogamesinc.com.
Forward-Looking Statements This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 about Zoo
Entertainment, Inc. Forward-looking statements are statements that
are not historical facts. Such forward-looking statements, based
upon the current beliefs and expectations of Zoo Entertainment,
Inc.'s management, are subject to various risks and uncertainties,
which could cause actual results to differ materially from the
results indicated by these forward-looking statements, including,
without limitation: general economic conditions; geopolitical
events and regulatory changes; our financial performance; our
competitive position; expectations regarding our potential growth;
our ability to implement our business strategy; expectations
regarding the size of our market; the introduction of new products
and market acceptance of new and existing products; requirements or
changes adversely affecting the businesses in which we are engaged;
demand for our products and services. For a further discussion of
the risks and uncertainties we face, please refer to Part I, Item
1A of our Annual Report on Form 10-K, for the year ended December
31, 2010, filed with the Securities and Exchange Commission (SEC)
on April 15, 2011 and other subsequent public reports that have
been filed with the SEC, all of which are available at www.sec.gov.
The information set forth herein should be read in light of such
risks. We assume no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise, and such statements are current only as of the date
they are made.
Company Contact Kate Stump Controller Zoo Entertainment,
Inc. Tel 513-824-8297 Email Contact Investor Relations
Contact Scott Liolios or Matt Glover Liolios Group, Inc. Tel
949-574-3860 Email Contact
Grafico Azioni Zoo Entertainment, Inc. (MM) (NASDAQ:ZOOG)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Zoo Entertainment, Inc. (MM) (NASDAQ:ZOOG)
Storico
Da Lug 2023 a Lug 2024