SIRIUS XM Radio today announced that it received a letter from The Nasdaq Stock Market acknowledging that the company complies with the independent director and audit committee requirements of the Nasdaq rules.
On July 9, 2009, The Nasdaq Stock Market notified SIRIUS XM that it did not comply with the independent director and audit committee requirements for continued listing on the Nasdaq Global Select Market after the resignation of one of its independent directors upon his confirmation as Deputy Director of the United States Office of Management and Budget. Upon the resignation of Gary Parsons as a director of the company, independent directors under the Nasdaq rules constitute a majority of the SIRIUS XM Board of Directors.
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