ChinaCast (CAST) Gets Listing Notification from Nasdaq Over Delayed 10-K Filing
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ChinaCast Education Corporation (Nasdaq: CAST), announced that, on March 27, 2012, it had received a letter from NASDAQ staff notifying the Company that it was no longer in compliance with NASDAQ Listing Rule 5250(c)(1) because it had not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2011 with the Securities and Exchange Commission ("SEC").
NASDAQ Listing Rule 5250(c)(1) requires ChinaCast to timely file all required periodic reports with the SEC. NASDAQ has provided the Company until April 10, 2012 to submit a plan to regain compliance. Any plan submitted to NASDAQ may not be accepted by NASDAQ or may be subject to review and comment by NASDAQ. If NASDAQ approves the Company's plan, it can grant the Company an extension period of up to 180 calendar days from the Form 10-K's original due date to regain compliance.
NASDAQ Listing Rule 5250(c)(1) requires ChinaCast to timely file all required periodic reports with the SEC. NASDAQ has provided the Company until April 10, 2012 to submit a plan to regain compliance. Any plan submitted to NASDAQ may not be accepted by NASDAQ or may be subject to review and comment by NASDAQ. If NASDAQ approves the Company's plan, it can grant the Company an extension period of up to 180 calendar days from the Form 10-K's original due date to regain compliance.
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