comScore to Appeal NASDAQ Suspension Ruling

Audience measurement firm comScore says it will request a hearing to discuss a return to compliance with NASDAQ requirements, after a notification from the exchange's Listing Qualifications Department that its shares will otherwise be suspended in a week's time.

Pending a report on its investigation into accounting 'irregularities', comScore remains delinquent in filing its Annual Report on Form 10-K for the fiscal year ended December 31st 2015, as well as Quarterly Reports on Form 10-Q for the first two quarter of 2016, leaving it non-compliant with NASDAQ Listing Rule 5250(c)(1). As a result, its stock is subject to suspension in trading on September 12th and delisting from The NASDAQ Global Select Market. comScore must formally submit a request for the hearing before this Thursday, 8th September, and says it will present a plan for regaining and maintaining compliance - while such a request is under consideration, the company will request that shares can continue to trade. The panel will give a decision 'no later than September 23rd'.

Delays in the investigation have baffled observers - in the first half of May, comScore told the SEC the committee would report its findings by 27th June, but the date came and went with the analysis unfinished. Since then, investor WPP has continued to buy comScore stock, which is trading close to the price it dropped to in March when the investigation was first announced. The marcoms giant has however declared itself 'puzzled as to why the audit investigation has taken so long, remains unresolved and has proved so costly'. Last month the NASDAQ issued a warning to comScore and gave it until August 29th to regain compliance.

Web site: www.comscore.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

• comScore, Inc.
• All news
• MrWeb info