News Column

PERNIX THERAPEUTICS HOLDINGS, INC. FILES (8-K) Disclosing Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

May 8, 2014



Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On February 26, 2014, Pernix Therapeutics Holdings, Inc. ("the Company") received notice from the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") that the Company did not comply with Marketplace Rules 5605(b)(1) and (c)(2) (the "Listing Rules") which require, respectively, that the Board of Directors be comprised of a majority of independent directors and that the Audit Committee be comprised of at least three independent directors.

On March 13, 2014, the Company appointed John Sedor to the Board of Directors and to serve on the Audit Committee, and subsequently, on April 25, 2014, the Company appointed Tasos Konidaris to the Board of Directors and to serve on the Audit Committee.

On May 7, 2014, the Company received a letter from Nasdaq stating that, as a result of the appointments of Messrs. Sedor and Konidaris to the Board of Directors and Audit Committee, the Company has regained compliance with the requirements of the Listing Rules.

2



--------------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses