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LIHUA INTERNATIONAL INC. FILES (8-K) Disclosing Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

June 23, 2014



Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On June 17, 2014, Lihua International, Inc. (the "Company"), received a letter from The NASDAQ Stock Market LLC ("Nasdaq"), which stated that the Nasdaq Staff has determined to delist the Company's securities pursuant to its discretionary authority under Listing Rule 5101. The Nasdaq Staff cited a number of reasons for their decision, including: 1) public interest concerns associated with the allegations against the Company's former CEO and Chairman, Mr. Jian Hua Zhu, and the Company's operational and financial status since those allegations were made public; 2) alleged violations by the Company of Listing Rule 5250(b)(1), which sets forth a listed company's obligation to make prompt disclosure to the public through any Regulation FD compliant method (or combination of methods) of disclosure of any material information that would reasonably be expected to affect the value of its securities or influence investors' decisions; and 3) Listing Rule 5250(c)(1), which sets forth a listed company's obligation to timely file all required periodic financial reports with the Securities and Exchange Commission.

The Company has not yet made a determination as to whether it will appeal the Nasdaq Staff's decision to delist. The deadline to request such an appeal is June 24, 2014.

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Source: Edgar Glimpses