On January 3, Leafly Holdings Received Letter From Nasdaq Confirming Co Is No Longer In Compliance With Audit Committee Rule; Is In Process Of Evaluating Potential Options To Regain Compliance With Audit Committee Rule Prior To Expiration Of Cure Period
Portfolio Pulse from Benzinga Newsdesk
Leafly Holdings received a letter from Nasdaq on January 3 stating that the company is not in compliance with the Audit Committee Rule. Leafly is currently evaluating options to regain compliance before the cure period expires, according to an SEC filing.
January 05, 2024 | 9:43 pm
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NEGATIVE IMPACT
Leafly Holdings has been notified of non-compliance with Nasdaq's Audit Committee Rule and is seeking ways to address the issue within the cure period.
Being out of compliance with Nasdaq's listing requirements is a negative signal to investors and can lead to further regulatory issues if not addressed promptly. The news may negatively impact investor confidence and the stock price in the short term as the company works to regain compliance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100