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libertyLiberty Tax is facing two issues in order to remain listed on the Nasdaq Stock Market. The first notice of noncompliance with the exchanges rules came after the company announced postponement of the release of financial results for the quarter ended October 31.

 

Liberty, which has filed a notice with the SEC of an inability to file the Form 10-Q for the quarter, has until February 12 to file the form and remain in compliance.

The more recent notice was received on January 2. Nasdaq notified Liberty of another issue stemming from the resignation of John Garel and Steven Ibbtoson, two of the company's independent directors. Both served on the Audit Committee.

Nasdaq Listing Rules require three members serve on the committee and all three much be independent. Liberty has until February 16 to submit a plan concerning how it will regain compliance.

Last modified on Tuesday, 16 January 2018
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