Cherokee Inc. announced that on June 21, 2017, it received a notice from the NASDAQ Stock Market stating that the company is not in compliance with NASDAQ Listing Rule 5250(c)(1) because the company did not timely file with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q for the quarterly period ended April 29, 2017.
The notice was issued in accordance with standard NASDAQ procedures and has no immediate effect on the listing or trading of the company’s common stock on the NASDAQ Global Select Market.
The NASDAQ notice of noncompliance indicates that the company has until August 21, 2017 to submit a plan to regain compliance with NASDAQ’s continued listing standards. Cherokee Global Brands expects to file the Quarterly Report as soon as reasonably practicable, at which time the company would regain compliance with NASDAQ’s continued listing standards and, assuming the Quarterly Report is filed before August 21, 2017, the requirement to submit a compliance plan to NASDAQ would be eliminated.
Cherokee Global Brands include Cherokee, Hi-Tec, Magnum, 50 Peaks, Interceptor, Hawk Signature, Tony Hawk, Liz Lange®, Completely Me by Liz Lange, Flip Flop Shops, Everyday California, Carole Little, Sideout®, Sideout Sport, Saint Tropez-West, Chorus Line, All That Jazz, and others.
Logo courtesy Cherokee