Glitch panics shareholders

Thursday, Aug. 14, 2003 | 11:01 a.m.

A computer glitch at the Nasdaq stock market on Wednesday sent shareholders of American Pacific Corp. stock into a brief panic when the market reported the stock price had plunged to 15 cents.

Deanna Riccardi, administrator for investor relations at the Las Vegas-based chemical company, said she fielded about 20 telephone calls from worried shareholders when the glitch occurred sometime between noon and 1 p.m., Las Vegas time.

She said Nasdaq still hasn't been able to explain why American Pacific and about 100 other companies had their shares incorrectly listed at the 15-cent level. Within about an hour of the incident, the correct listing was posted and American Pacific shares closed at $7.69 a share.

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