NASDAQ sends notice to LJ International

20 Jul '07

2 min read

LJ International Inc reported that the Company received a letter on July 18, 2007 from The Nasdaq Stock Market indicating that as a result of the Company's failure to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2006 with the Securities and Exchange Commission by July 17, 2007 (the deadline for filing its Form 20-F after having requested a 15-day extension from the original due date), the Company is not in compliance with the Nasdaq requirements for continued listing set forth in Nasdaq Marketplace Rule 4320(e)(12), and its securities are, therefore, subject to delisting from The Nasdaq Global Market.

Nasdaq Marketplace Rule 4320(e)(12) requires the Company to file all required reports with Nasdaq on or before the date they are required to be filed with the Securities and Exchange Commission.

The Company intends to appeal the Nasdaq Staff Determination and request a hearing with the NASDAQ Listing Qualifications Panel.

Nasdaq's Marketplace Rules provide that the Company's timely request for a hearing will stay the delisting action pending the issuance of a written determination by the Listing Qualifications Panel.

There can be no assurance that the NASDAQ Listing Qualifications Panel will grant the Company's request for continued listing.

LJ International Inc

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