Hain filing delay
This article was originally published in The Rose Sheet
Executive Summary
Hain Celestials has requested a hearing before a NASDAQ Listing Qualifications Panel to request continued listing on the stock market, the firm announces Sept. 20. On Sept. 14, the natural-food and personal-care company received a staff determination letter indicating that Hain is not in compliance with NASDAQ filing requirements due to a delay in filing Form 10-K. Hain shares will continue to be listed on NASDAQ pending a decision by the Listing Qualifications Panel. Hain says it is conducting a review of its stock-option practices under the direction of "a group of independent investors" and independent legal counsel. "The timing of that completion has resulted in a delay in finalizing the company's annual report on form 10-K," Hain says. Company notes that the results of the review and any changes recommended by reviewers will not affect its Q4 and FY 2007 results...
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