The radio and television conglomerate Urban One, which is asking Richmond voters for permission to build an integrated casino resort there, faces delisting from the Nasdaq stock exchange due to regulatory infractions.
Officials from Nasdaq stated that the company is in danger of being delisted because it failed to submit its 2022 financial annual report on time and also submitted quarterly reports after the deadline. Although there are procedures for companies to take to challenge the decision and stay on the stock market, delisting is frequently the outcome of a Nasdaq Staff Determination of Non-Compliance for a publicly traded entity.
Officials from Nasdaq stated that the company is in danger of being delisted because it failed to submit its 2022 financial annual report on time and also submitted quarterly reports after the deadline. Although there are procedures for companies to take to challenge the decision and stay on the stock market, delisting is frequently the outcome of a Nasdaq Staff Determination of Non-Compliance for a publicly traded entity.