Nasdaq has handed US snack maker Diamond Foods more time to become up-to-date with its financial reporting.
The US stock exchange warned in June Diamond could be delisted for missing the deadline to file already-delayed accounts.
However, Diamond asked for a hearing and has been given until 7 December to report restated numbers for its last two financial years. It also has until that date to file results for the first three quarters of its current financial year.
The Kettle Chips maker is in the process of preparing a restatement of its financial statements for fiscal 2010/2011 after an internal investigation found the company had incorrectly accounted for payments to walnut growers.
Source:
http://www.just-food.com/news/diamond-foods-gets-nasdaq-reporting-extension_id120470.aspx
