Coherent common stock to be suspended from Nasdaq trading

By Lisa Kerner

Charlotte, N.C., Dec. 18 - The Securities and Exchange Commission denied Coherent, Inc.'s motion to stay a decision of the Nasdaq Stock Market LLC to suspend and delist the company's common stock.

As a result, Coherent's common stock will be suspended from trading on the Nasdaq effective Wednesday and then delisted.

Coherent had until Monday to file its past-due periodic reports with the SEC and regain compliance with Nasdaq's listing requirements, according to a company news release.

Coherent said it plans to file its remaining past-due periodic reports "as soon as possible."

The delay in filing was attributed to the lengthy internal investigation by a special committee of Coherent's board into historical stock option granting practices and the resulting restatement.

Coherent is a Santa Clara, Calif.-based designer and manufacturer of lasers and precision optics used in areas such as semiconductor manufacturing and environmental research.

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