IMMERSION CORP 8-K

What Happened

• On February 10, 2026 Immersion Corporation (IMMR) received a Nasdaq Listing Qualifications Staff Determination Letter saying the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not filed its Form 10‑Qs for the quarters ended July 31, 2025 and October 31, 2025, and its Form 10‑K for the fiscal year ended April 30, 2025 (the "Delayed Reports").
• The company previously disclosed via Form 12b‑25 filings (July 30, 2025; Sept 16, 2025; Dec 16, 2025) that Immersion and its consolidated subsidiary, Barnes & Noble Education, Inc. (BNED), are conducting audit committee investigations that will result in a restatement of previously issued financial information, and that work on the restatement prevented completion of the Delayed Reports.
• Nasdaq noted the company failed to meet the terms of an exception granted on February 9, 2026. The Determination Letter does not immediately suspend trading or delist the shares; Immersion intends to request a hearing before a Nasdaq Hearings Panel and seek an extended stay. The company issued a press release on February 13, 2026 reporting these developments.

Key Details

• Date of Nasdaq letter: February 10, 2026; prior Nasdaq notices: Aug 20, 2025; Sept 29, 2025; Dec 23, 2025.
• Delayed filings: Form 10‑Q for quarters ended July 31, 2025 and Oct 31, 2025; Form 10‑K for year ended April 30, 2025.
• Cause: audit committee investigations at Immersion and BNED resulting in an expected restatement of prior financials.
• Next steps: company will request a hearing (automatically stays suspension for 15 days) and may request an extended stay; hearings are typically scheduled about 30–45 days after a hearing request.

Why It Matters

• Missing SEC filings and a Nasdaq non‑compliance determination increase delisting risk and can reduce investor confidence and stock liquidity until filings are completed and reviewed.
• The restatement means previously reported financial results will change, which could materially affect investors’ view of the company’s recent performance once the corrected numbers are filed.
• Immersion says it is working to complete the restatement and file the Delayed Reports as soon as practicable, but there is no assurance the Nasdaq Hearings Panel will grant additional time. Investors should monitor future 8‑Ks and the company’s filed reports for updated financials and timing.