Aceto receives Nasdaq notice due to delay in filing Form 10-Q
Aceto Corporation announced that it received a notification from the Nasdaq Stock Market on February 13, 2019 informing Aceto that since Aceto had not yet filed its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2018, Aceto was not in compliance with Nasdaq Listing Rule 5250c1. The Listing Rule requires listed companies to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission. The Nasdaq notification letter specifies that Aceto has 60 calendar days, or until April 14, 2019, to submit a plan to regain compliance with the Listing Rule. If Nasdaq accepts the plan from Aceto, Nasdaq can grant an exception of up to 180 calendar days from the Quarterly Report's due date, or until August 12, 2019, to regain compliance. Aceto filed the Quarterly Report prior to the opening of trading on February 20, 2019. The Quarterly Report, among other things, describes that on February 19, 2019, the Company and certain of its U.S. subsidiaries each filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code.