Troubled software house Quintus is to be unlisted from Nasdaq for not complying with filing regulations.
Nasdaq issued a Stock Market Staff Determination statement to the CRM software manufacturer pointing out that it has not filed three copies of all reports and documents as required.
These documents were due to be filed 45 days after close of the quarter and required under law to be filed at the Securities and Exchange Commission (SEC) as stated in Marketplace Rule 4310(c) (14).
Quintus delayed filing Form 10-Q documents for the quarter ending 30 September 2000. The 45-day filing period has now elapsed.
Quintus has requested a hearing to appeal before the Nasdaq Listing Qualification Panel but has no assurance of continued listing.
The news follows the dismissal of chairman and CEO Alan Anderson after an audit commission investigation found accounting irregularities of approximately $13.5m.