Cygne Designs Inc announced it has received a Nasdaq Staff Deficiency Letter on April 10, 2008 indicating that the Company failed to comply with Marketplace Rule 4310 (c) (13) requiring payment of certain fees and that Cygne's securities are, therefore, subject to delisting from Nasdaq.
On April 15, 2008, the Company received an additional Nasdaq Staff Determination letter from Nasdaq indicating that the Company failed to comply with Marketplace Rule 4310 (c) (13) requiring payment of certain additional fees and that Cygne's securities are, therefore, subject to delisting from Nasdaq.
The past due fees payable to Nasdaq aggregate $92,500. On April 16, 2008, Cygne paid the past due fees of $92,500 and the Nasdaq Staff rescinded its delisting directive.
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.
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