Central Garden and Pet (CENT) Receives Delisting Notification From NASDAQ
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Central Garden and Pet Company (Nasdaq: CENT) has delayed the filing of its Form 10-Q for the quarter ended June 28, 2008 while its Audit Committee completes a review of issues raised in a letter from a Company employee. The Company expects to file the Quarterly Report as soon as practicable after the completion of the review.
The Nasdaq Staff Determination letter indicated that the Company is not in compliance with Nasdaq Marketplace Rule 4310(c)(14) because it did not timely file the Quarterly Report. As a result, unless the Company requests a hearing in accordance with Nasdaq Marketplace Rules, the Company’s securities would be delisted from Nasdaq at the opening of business on August 22, 2008. The Company intends to timely request a hearing before a Nasdaq Listing Qualifications Panel (“Panel”) to appeal the Nasdaq’s Staff determination, which will stay the delisting until the Panel has reached a decision. [SM]
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