NEW YORK (AFX) - Monster Worldwide Inc., parent company of jobs site Monster.com, said Monday it was put on notice by the Nasdaq that it was not in compliance with the exchange's listing requirements because of a delay in filing second-quarter financial results.
Monster said it expected the action and that an ongoing internal review into past stock options grants practices is the reason for the delay. The company said it would file its 10-Q quarterly statement with the Securities and Exchange Commission when the investigation is complete.
Monster is also under investigation by the SEC and the Justice Department for its accounting methods in reporting the timing of stock options grants.
The company said it will request a hearing to review the Nasdaq listing issue. Monster shares will continue to trade on the Nasdaq pending the outcome of the hearing.
Shares of Monster closed up 65 cents at $38.79.
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