Press Release Requirements for NASDAQ Listed Companies Modified

The Securities and Exchange Commission (the "Commission") recently approved changes to the NASDAQ rules regarding press releases. Since the Commission's adoption of Regulation FD, increasing acceptance of Regulation FD-compliant public disclosure methods have reduced, to some extent, duplicative Form 8-K filings. Accordingly, NASDAQ modified certain of its rules to permit disclosure either through a press release or by filing a Form 8-K where required by Commission rules. The rule modifications became effective on March 15, 2010.