Hain rebuked by NASDAQ
This article was originally published in The Rose Sheet
Executive Summary
Staff determination letter sent by NASDAQ Nov. 14 states that Hain Celestials is not in compliance with filing requirements for continued listing due to its failure to timely file Form 10-Q for the fiscal period ended Sept. 30, 2007, firm announces Nov. 16. An independent review of the company's stock option practices, launched last September, is "substantially complete" but has delayed the filing of the 10-Q, as well as its Annual Report on Form 10-K for the year ended June 30, 2007 (1"The Rose Sheet" Sept. 24, 2007, In Brief). Hain shares remain listed on NASDAQ pending a decision from its Listing Qualifications Panel, with which the company met Oct. 31. Any adjustments that have been identified in its review will not affect the company's previously released results of operations for the fiscal year or quarter in question, the firm says...