Under what circumstances is a company entitled to a hearing?
A listed company that has received a delisting determination letter from NASDAQ may appeal that determination by requesting a hearing. A company that has been denied initial listing may also appeal the denial by requesting a hearing. When NASDAQ determines to delist a company due to its failure to meet continued listing standards, NASDAQ will send a delisting determination letter, which will include the basis for the delisting. The company then has seven calendar days from the date of the determination letter to request a hearing. A request for a hearing will stay the delisting pending a decision by the Hearing Panel. Failure to request a hearing within seven calendar days will result in the company’s suspension and delisting under the terms of the delisting determination.
