Quantum receives noncompliance notification from Nasdaq

The company received a notice from Nasdaq stating that the company is not in compliance with Nasdaq Listing Rule 5250 as a result of the company’s delay in filing the Form 10-Q. The company must file the Form 10-Q or submit a plan to Nasdaq to regain compliance on or before September 15 in accordance with the Nasdaq Listing Rules. The notice has no immediate impact on the listing of the company’s common stock, which will continue to trade on Nasdaq, subject to the Company’s compliance with other continued listing requirements of Nasdaq.