How long can a company remain listed if it is late in filing its periodic reports because of an internal investigation, accounting issues, restatements, or other similar concerns?
A company may remain listed while deficient in its filing obligations for a maximum period of 360 days from the due date of the initial late periodic report (as extended by Exchange Act Rule 12b-25, if applicable). When a company is late in filing a required periodic report with the SEC, NASDAQ Staff will request that it submit a plan of compliance within 60 days. Upon review of the plan of compliance, Staff may allow the company to remain listed for up to 180 days from the due date of the filing. If the company is not current in its filings at the end of the 180 day period, Staff will send a delisting determination letter to the company. The company may appeal the delisting determination letter to a Hearings Panel, which is comprised of individuals who are independent of NASDAQ. A request for a hearing before the Panel will automatically stay the delisting for a period of 15 days from the date the request for an appeal is due. The company may request that the Panel extend the stay for
A company may remain listed while deficient in its filing obligations for a maximum period of 360 days from the due date of the initial late periodic report (as extended by Exchange Act Rule 12b-25, if applicable). When a company is late in filing a required periodic report with the SEC, NASDAQ Staff will request that it submit a plan of compliance within 60 days. Upon review of the plan of compliance, Staff may allow the company to remain listed for up to 180 days from the due date of the filing. If the company is not current in its filings at the end of the 180 day period, Staff will send a delisting determination in a letter to the company. The company may appeal the delisting determination to a Hearings Panel, which is comprised of individuals who are independent of NASDAQ. A request for a hearing before the Panel will automatically stay the delisting for a period of 15 days from the date the request for an appeal is due. The company may request that the Panel extend the stay for a
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