Vancouver-based Northwest Pipe Co. will remain on the Nasdaq stock exchange until at least Nov. 8, the company announced Thursday in a filing with the U.S. Securities and Exchange Commission.
The maker of steel pipe has faced repeated delisting threats from the Nasdaq stock exchange. It made its case to remain on the exchange before a Nasdaq hearings panel on June 24. Now, Northwest Pipe has received a written decision from Nasdaq officials granting it until Nov. 8 to file its overdue quarterly and annual financial reports.
In addition to its troubles with the Nasdaq stock exchange, Northwest Pipe is fighting a class-action lawsuit accusing its leaders of making “false and misleading” statements that artificially inflated its stock. The company also is under investigation by the SEC.
