A hearing to determine why infoUSA should not be delisted from the NASDAQ Global Select Market has been scheduled for May 22.
The hearing, which will be held in front of the NASDAQ Listing Qualification Panel, will allow the Omaha, NE-based compiler to explain why it should still be listed on the exchange, despite not having filed its 10-Q form for the quarter ended March 31.
The failure to file has put the company out of compliance with the exchange’s rules. InfoUSA has previously claimed that a consolidated shareholder complaint, and a related informal investigation by the Securities and Exchange Commission, have prevented it from filing the 10-Q. InfoUSA has formed a special litigation committee to address these two actions.
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