Zoom Technologies Regains Compliance With NASDAQ

Symbols: ZOOM
Posted in: News
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Zoom Technologies, Inc. (Nasdaq: ZOOM) today reported that Nasdaq Listing Qualifications has notified the Company via a letter dated May 23, 2011 that the Company has regained compliance with Rule 5635(c) and, upon the disclosure of the matter which the Company completed by the filing of a Form 8-K on May 25, 2011, the matter is now closed.

The NASDAQ Stock Market brought to the Company's attention on April 1, 2011 that the Company had not been in compliance with NASDAQ Rule 5635(c), which generally requires shareholder approval of equity-based compensation plans. On December 10, 2009, the Company adopted its 2009 Equity Incentive Compensation Plan without obtaining shareholder approval.


 
 
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