SOHU.COM INC. (NASDAQ:SOHU) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously reported in a Form 8-K filed on January 25, 2017, Dr. Edward B. Roberts resigned from the registrant’s Board of Directors effective January 31, 2017. As a result the compensation committee (the “Compensation Committee”) of the registrant’s Board of Directors has only one member, and the registrant no longer complies with Nasdaq Listing Rule 5605(d)(2), which requires companies with securities listed on Nasdaq to have a compensation committee composed of at least two directors.
The registrant notified the Nasdaq Listing Qualifications Department (the “Nasdaq Staff”) on January 31, 2017 that the Compensation Committee has only one member and the registrant no longer complies with Nasdaq Listing Rule 5605(d)(2).
As previously reported in the registrant’s Form 8-K filed on January 25, 2017, the registrant will rely on the cure period provided by Nasdaq Listing Rule 5605(d)(4), which will permit the vacancy on the Compensation Committee to continue until July 30, 2017. As also previously reported, the registrant expects to fill the vacancy before the expiration of the cure period.
On February 1, 2017, the registrant received a letter from the Nasdaq Staff confirming that it had received notice from the registrant that the registrant no longer complies with Nasdaq Listing Rule 5605. The letter from the Nasdaq Staff confirmed that the registrant may rely on the cure period provided by Nasdaq Listing Rule 5605(d)(4).
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About SOHU.COM INC. (NASDAQ:SOHU)
Sohu.com Inc. (Sohu) is an online media, search and game service company providing online products and services on personal computers (PCs) and mobile devices in the People’s Republic of China (the PRC). The Company operates through three segments: the Sohu segment; the Sogou segment, and the Changyou segment. Sogou is an online search, client software and mobile Internet product provider in China. Changyou is an online game developer and operator in China as measured by its MMOG Tian Long Ba Bu (TLBB) and its mobile game TLBB three-dimensional (TLBB 3D), and engages primarily in the development, operation and licensing of online games for PCs and mobile devices. The Sohu segment’s main business is the brand advertising business, which offers to users, over its matrices of Chinese language online media, various content, products and services across multiple Internet-enabled devices. SOHU.COM INC. (NASDAQ:SOHU) Recent Trading Information
SOHU.COM INC. (NASDAQ:SOHU) closed its last trading session up +0.39 at 39.92 with 123,180 shares trading hands.