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VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the networked world, announced today that it received a Nasdaq Staff Determination Letter from The Nasdaq Stock Market on November 10, 2006 stating that VeriSign is not in compliance with the filing requirements under Nasdaq Marketplace Rule 4310(c)(14) due to the delayed filing of its Form 10-Q for the quarter ended September 30, 2006. VeriSign received a similar notice on August 14, 2006 due to the delay in filing its Form 10-Q for the second quarter of 2006. On September 26, 2006, VeriSign appeared at a hearing before a Nasdaq Listing Qualifications Panel ("Panel") and presented a plan for compliance with Nasdaq's listing requirements, which also contemplated the September 30, 2006 Form 10-Q. Pending a decision by the Panel, VeriSign's common stock will remain listed on The Nasdaq Global Market.
As previously disclosed, VeriSign's Board of Directors has commenced an independent review and analysis of VeriSign’s historical stock option grants. VeriSign intends to file its quarterly reports as soon as practicable after completion of its internal review.
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