Tech Reviews

Nasdaq grants Logitech extension

Logitech has confirmed with investors that the company will move forward with two procedural steps related to the delay in filing for the company’s FY 2014 10-K and Q1 FY 2015 10-Q results with the U.S. Securities and Exchange Commission (SEC).

In the first step, Logitech has been granted an exception by Nasdaq, extending the deadline to October 15, 2015 for complying with Listing Rule 5250(c)(1) by filing its 10-K and 10-Q. This exception was granted by Nasdaq, “based on a compliance plan submitted by Logitech in response to a previously announced Nasdaq request,” according statements released by the company earlier this evening.

The second step came as part of Nasdaq, which issued a non-compliance notice regarding Logitech’s delay in filing its 10-Q for the first quarter of FY 2015. According to Logitech’s statements, “The Q1 filing cannot be completed until the 10-K is filed. This notice also relates to Listing Rule 5250(c)(1), which requires the timely filing of these reports with the SEC.”

At this time Nasdaq also requested an update to Logitech’s original compliance plan.

These initial Nasdaq notices will “have no immediate effect on the listing or trading of Logitech’s common stock on the Nasdaq Global Select Market,” though investors are sure to be anxious to hear the quarterly results that have been delayed.

In the before mentioned statement the company wrote:

“Logitech is working to complete and file both the 10-K and the 10-Q as soon as possible prior to the Nasdaq deadline of October 15, 2014, following the completion of an investigation of certain accounting matters related the Company’s previously issued financial statements and additional work necessary to file the 10-K and the 10-Q.”

More information on the completion of these steps will be confirmed at a later date.