NEW YORK (AFX) - Telecom equipment maker Comverse Technology Inc. said Friday it received another letter from Nasdaq saying its shares may be delisted due to the delay in filing its fiscal third-quarter report.
The company said in April it would be late in filing its annual report for the fiscal year ended Jan. 31, and said earlier this week it would be late in filing its results for the quarter ended April 30 due to its internal review of stock options grants.
On June 12, Comverse said it plans to file its full-year and first-quarter results, together with any restated historical financial statements, as soon as possible after its special committee completes its stock options review.
Comverse's top executives resigned in May amidst questions over the company's practices in granting stock options. Comverse is one of more than 40 companies currently under investigation by the Securities and Exchange Commission or the Justice Department, looking into whether executives backdated stock options by timing them at low points to boost the payouts.
The company said it plans to submit a plan to file its report to Nasdaq.
Shares slipped 18 cents to close at $20.11 on the Nasdaq.
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