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Nasdaq Keeps Diedrich; NetZero Gets Warning

July 04, 2001|Times Staff and Reuters

Diedrich Coffee Inc.'s stock, in danger of being removed from the Nasdaq National Market, has won a reprieve, the Irvine specialty coffee retailer said Tuesday.

The company said it has been notified by Nasdaq that it now complies with all of the requirements necessary for continued listing.

Diedrich had been granted an extension by Nasdaq officials to comply with minimum net tangible asset requirements and minimum bid price requirements for continued listing.

The company completed a 1-for-4 reverse stock split in May that bolstered the price, which had fallen below $1 a share.

On Tuesday the shares (DDRX) lost 25 cents to $3.85.

Meanwhile, another Southland company--Westlake Village-based Internet access provider NetZero Inc. (NZRO)--said Tuesday that Nasdaq warned its listing may be in jeopardy.

The company, which last month agreed to buy Juno Online Service Inc. (JWEB), said it has asked for a hearing before a Nasdaq Listing Qualifications Panel to appeal the market's determination.

Nasdaq said NetZero hasn't maintained compliance with the market's minimum bid price requirement.

Nasdaq is required to grant NetZero a hearing within 45 days of receiving such a request.

NetZero stock eased 1 cent to 89 cents Tuesday. Juno shares were unchanged at $1.44.

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