Logility, Inc. (Nasdaq: LGTY) faces de-listing from Nasdaq because it is not meeting the minimum requirement of $5 million in publicly held shares.
Logility, a B2B collaborative commerce software provider, said it would appeal Nasdaq’s ruling. The company pointed out that since American Software holds more than 86 percent of its stock that it “is able to include only a small percentage of its outstanding shares in the calculation of market value”.
Logility stock closed down 5 cents to $2.05 on Monday.
Logility: www.logility.com
