Nasdaq delists StarMedia over missing financial report

Spanish and Portuguese-language Internet portal StarMedia Network Inc. was delisted from the NASDAQ stock exchange Friday after it failed to file a quarterly financial statement.

The exchange informed StarMedia that it had failed to comply with stock market regulations after the company delayed filing a Form 10-Q quarterly report for its fiscal quarter ended Sept. 30, 2001, the company said.

StarMedia previously said that it would delay filing the report until after it concluded an investigation into questions of “revenue recognition issues” in its Mexican subsidiaries.

The company refused to comment further on the delisting Friday.

StarMedia, in New York, can be reached at 1-212-548-9600 or at