September 12, 2006—The prognosis is improving for Merge Technologies Inc (Milwaukee, Wis), which earlier this year faced allegations of improper financial practices and the resignation of four senior staff members—including, most recently, Brian Pedlar, co-president, co-chief executive officer, and president of the Cedera Software division.
On Sept. 8, Merge received written notification from the staff of the Nasdaq Stock Market stating that the Nasdaq Listing Qualifications Panel has decided to continue listing the company’s common stock. In August, the company had been warned that its failure to file quarterly reports on time would be considered cause to have the stock de-listed.
The company, whose 2002-2005 financial records were deemed unreliable by an internal audit committee, has now filed its Annual Report on Form 10-K for the year ended December 31, 2005 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2006 and June 30, 2006.
—Cat Vasko
