Dell said Monday that the Nasdaq Board of Directors granted it a reprieve, just hours before the company"s stock was set to be delisted from the stock exchange. In a statement, Dell provided few specifics except that shares of its stock would continue trading on Nasdaq until further notice.
"Dell today announced that the Board of Directors of The NASDAQ Stock Market LLC has called the NASDAQ Listing and Hearing Review Council"s June 27, 2007 decision regarding the company for review, and had also stayed the Council"s decision to suspend the company"s common stock from trading," the PC maker said in a press release. "Dell"s common stock will remain listed on The NASDAQ Stock Market pending further consideration by the NASDAQ Board. The company is committed to regaining compliance with all NASDAQ listing requirements as soon as possible." In mid-morning trading, shares of Dell briefly touched a 52-week high of $29.29 on heavy volume.