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Citrix Systems, Inc.  Annual Report
18. Subsequent Events
Subsequent to December 31, 2006, the Company failed
to file its Annual Report on Form 10-K for the year ended
December 31, 2006 with the SEC on a timely basis. As a
result, on March 15, 2007, the Nasdaq Listing Qualifications
Department notified the Company that it was not in
compliance with the requirements of Nasdaq Marketplace
Rule 4310(c)(14) and began delisting proceedings. In
addition, in 2007, the Company failed to file its Quarterly
Reports on Form 10-Q for the three months ended
March 31, 2007 and June 30, 2007 with the SEC on a
timely basis. After each occurrence, the Nasdaq Listing
Qualifications Department notified the Company that it was
not in compliance with Nasdaq’s listing requirements. In
accordance with Nasdaq rules, the Company requested a
hearing with the Nasdaq Listing Qualifications Panel and
later appealed the panel’s determination. On August 30,
2007, the Company received notification from Nasdaq that
the Company’s common stock will continue to be listed on
the Nasdaq Global Select Market pending a review by the
Nasdaq Listing and Hearing Review Council of the decision
of the Nasdaq Listing Qualifications Panel. On September
11, 2007, following the filing of the Company’s Annual
Report on Form 10-K for the year ended December 31,
2006 and its Quarterly Reports on Form 10-Q for the three
months ended March 31, 2007 and June 30, 2007, the
Company received notice from the Nasdaq Listing and
Hearing Review Council Compliance Department that the
Company had demonstrated compliance with all the of the
Nasdaq Marketplace Rules and that the delisting process
was closed.