Rambus Inc. to restate

Hold the fort Ramboids:

In what has been expected by Ramboids, Rambus announced (7/19/06) it would be restating the financial statements for the fiscal years 2003, 2004 and 2005. This the result of the ongoing independent investigation to review the Company’s historical stock option grant practices and related accounting.

In what was unexpected and simply inexecusable was the additional announcement that Rambus does not expect to be able to complete its investigation and prepare the restated financial reports before the due date of its Q2 06 report (8/9/06) or the extended date (8/14/06).

Rambus states:

Rambus expects to receive a notification from Nasdaq that it is not in compliance with the filing requirements for continued listing on Nasdaq and that its common stock may be subject to delisting from the Nasdaq National Market.

But wait, there is a plan:

Following receipt of such a notification, the Company intends to request a hearing before a Nasdaq Listing Qualifications Panel.

Read the Form 8-K linked here.

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Whoa Nellie . . . this is creating quite a buying opportunity.