US: JDA Software non-compliant with listing rules

21 May 2012 | News | Source: just-style

JDA Software Group Inc has been notified by the Nasdaq stock exchange that it continued to be non-compliant with listing rules because it hasn't yet filed its latest quarterly report.

The company, which specialises in supply chain management, merchandising and pricing tools, is in the process of restating its financial results for the period from 2008 through 2010 after an investigation found problems in the way it recorded some service agreements and the related license revenue.

JDA is now required to submit an updated plan of compliance to Nasdaq by 30 May. If this is accepted, an additional period of up to 180 calendar days from the Form 10-K's original due date, or until 28 August 2012, can be provided to allow the company to regain compliance.