By a News Reporter-Staff News Editor at Entertainment Newsweekly -- Logitech International (SIX: LOGN) (Nasdaq: LOGI) announced that, as expected, the Company received a standard notice from Nasdaq stating that Logitech is not in compliance with the Nasdaq listing rule that requires timely filing of reports with the U.S. Securities and Exchange Commission - Rule 5250©(1). The June 3, 2014 letter was sent as a result of Logitech's delay in filing its FY 2014 10-K for the year ended March 31, 2014, which the Company announced on May 21, 2014.
The Nasdaq notice has no immediate effect on the listing or trading of Logitech's common stock on the Nasdaq Global Select Market. Under the Nasdaq rules, the Company has 60 days to submit a plan to regain compliance. If the plan is accepted, Logitech could be granted up to 180 days from the 10-K's due date to regain compliance. The Company expects to submit a plan to regain compliance within the timeline prescribed by Nasdaq.
Logitech plans to file its 10-K as soon as possible, following the completion of an investigation of certain accounting matters related to the Company's previously issued financial statements, and related work necessary to file the 10-K. About Logitech Logitech is a world leader in products that connect people to the digital experiences they care about. Spanning multiple computing, communication and entertainment platforms, Logitech's combined hardware and software enable or enhance digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
Keywords for this news article include: Entertainment, Logitech International.
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