Quantum Corporation (QMCO) has released an update.
Quantum Corporation received a notice from Nasdaq for not complying with a listing rule due to a delay in filing its quarterly report. The company cited the need for extra time to assess certain accounting standards as the reason for the delay, which is a repeat occurrence from the previous fiscal quarter. While Nasdaq has granted an extension for compliance, the company’s stock remains listed as they work on a plan to meet the requirements. If the updated compliance plan is rejected, Quantum Corporation may appeal to a Nasdaq Hearings Panel.
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