Business Services Industry
Webvan to Request Hearing On Nasdaq Listing Status
Business Wire, April 18, 2001
Business Editors
FOSTER CITY, Calif.--(BUSINESS WIRE)--April 18, 2001
Webvan Group, Inc. (Nasdaq:WBVN) today reported that it received a Nasdaq Staff Determination on April 16, 2001, indicating that the company has failed to comply with the minimum bid price requirement for continued listing (Nasdaq Marketplace rule: 4450(a)(5)). Webvan will file a request for an oral hearing before the Nasdaq Qualifications Panel to review the staff determination. Webvan stock will continue to be traded on the Nasdaq National Market pending the final decision by the Qualifications Panel. The hearing date will be determined by Nasdaq.
At this time, the Company is in compliance with all of Nasdaq's continued listing requirements except for the minimum bid price requirement.
About Webvan
Webvan Group, Inc. is setting a new standard for Internet retailing, combining for the first time the convenience of online shopping with a personalized courier service that delivers products into customers' homes within a time window of their choosing. Through its Web site, http://www.webvan.com, Webvan offers a broad selection of quality products at competitive prices. The company's relentless focus on customer service, innovation, and value saves its customers time and money. Webvan's corporate headquarters are located in Foster City, Calif.
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