Apple has been notified by Nasdaq that the company isn’t in compliance with requirements for continued listing on the tech stock market because of Apple’s delay in filing its quarterly report. Apple said it will request a hearing before a Nasdaq panel, and that its shares will remain listed pending the panel’s decision. Apple spokeswoman Katie Cotton told the Wall Street Journal that the company expects the Nasdaq hearing to be a “multimonth process.” Apple announced last week that it would delay filing its quarterly report with the Securities and Exchange Commission because of irregularities related to the issuance of stock-option grants.
Nasdaq warns Apple of possible delisting
By LC Angell
LC Angell was a senior editor at iLounge. Angell is known for her work on various aspects of the Apple ecosystem, including iPhone, iPad, and iPod. In his role at iLounge, Angell was responsible for a wide range of editorial content, including reviews, buyer's guides, news, and features.