CAMBRIDGE, Mass.--(BUSINESS WIRE)--March 22, 2007--Forrester
Research, Inc. (Nasdaq: FORR) today announced that it will request a
hearing before the Nasdaq Listing Qualifications Panel in response to
the receipt of a Nasdaq Staff Determination letter indicating that the
company is not in compliance with the filing requirements for
continued listing as set forth in Marketplace Rule 4310(c)(14). As
anticipated, the letter was issued in accordance with Nasdaq
procedures when Forrester did not file its annual report on Form 10-K
for the year ended December 31, 2006. Forrester's request for a
hearing will ensure continued trading in Forrester's common stock on
The Nasdaq Stock Market pending the decision of the panel.
As announced on December 19, 2006, the audit committee of
Forrester's Board of Directors is conducting an internal review of
Forrester's stock option granting practices. The audit committee
reported findings to the Board of Directors relating to the conduct of
certain directors, officers, and former officers. The investigation is
ongoing for the purpose of determining the correct measurement dates
for options granted between 1998 and 2006. Forrester will need to
restate its historical financial statements to record additional
charges for compensation expense relating to past stock option grants
and related tax impacts. Forrester is focused on resolving these
issues and plans to file its Form 10-K as soon as possible following
completion of the independent investigation.
About Forrester Research
Forrester Research, Inc. (Nasdaq: FORR) is an independent
technology and market research company that provides pragmatic and
forward-thinking advice to global leaders in business and technology.
For more than 23 years, Forrester has been making leaders successful
every day through its proprietary research, consulting, events, and
peer-to-peer executive programs.
(C) 2007, Forrester Research, Inc. All rights reserved. Forrester
is a trademark of Forrester Research, Inc.
CONTACT: Forrester Research, Inc.
Karyl Levinson, +1-617-613-6262
Vice President, Corporate Communications
press@forrester.com
or
Phyllis Paparazzo, +1-617-613-6234
Director, Investor Relations
ppaparazzo@forrester.com
SOURCE: Forrester Research, Inc.
