Nasdaq notifies Hain on filing delay
September 21, 2007
by Josh Sosland
NEW YORK — The Hain Celestial Group has received a Nasdaq Staff Determination letter indicating that Melville, N.Y.-based Hain is not in compliance with the exchange’s filing requirements for listing. Hain said it has requested a hearing before a Nasdaq listing qualifications panel and that its shares will remain listed on the Nasdaq market pending a decision by the panel. Hain attributed the delay to its ongoing independent review of the company’s stock option practices. The company described the review as "substantially complete" but said the timing of the work delayed finalizing its annual report on Form 10-K. The company added that it does not expect any adjustments in the review to affect the company’ previously released results for the year ended June 30.