Company Also Receives Expected Nasdaq Notice Related to Delay in 10-Q Filing
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced two procedural steps related to the delay in filing its FY 2014 10-K and Q1 FY 2015 10-Q with the U.S. Securities and Exchange Commission (SEC).
First, the Company has been granted an exception by Nasdaq, extending the deadline to October 15, 2014 for complying with Listing Rule 5250(c)(1) by filing its 10-K and 10-Q. The exception was granted by Nasdaq based on a compliance plan submitted by Logitech in response to a previously announced Nasdaq request.
Second, as expected, Nasdaq issued a non-compliance notice regarding Logitech’s delay in filing its 10-Q for the first quarter of FY 2015. The Q1 filing cannot be completed until the 10-K is filed. This notice also relates to Listing Rule 5250(c)(1), which requires the timely filing of these reports with the SEC. Nasdaq also requested an update to Logitech’s original compliance plan.
The Nasdaq notices have no immediate effect on the listing or trading of Logitech’s common stock on the Nasdaq Global Select Market. Logitech is working to complete and file both the 10-K and the 10-Q as soon as possible prior to the Nasdaq deadline of October 15, 2014, following the completion of an investigation of certain accounting matters related the Company’s previously issued financial statements and additional work necessary to file the 10-K and the 10-Q.