How Usana reports its NASDAQ delisting letter

Posted on August 14th, 2007

Reported to the public via a press release:

USANA Health Sciences Inc. (NASDAQ:USNA – News) today announced that the company has received an automated notice from the NASDAQ indicating that the Company’s recent quarterly report on form 10-Q is considered incomplete, because the financial information in the Form 10-Q was not reviewed by an independent auditor.

Reported to the SEC:

On August 10, 2007, the Company received a Nasdaq Staff Determination letter indicating that the Company fails to comply with Marketplace Rule 4310(c)(14) for continued listing on The Nasdaq Stock Market. Rule 4310(c)(10) requires that a listed company file with Nasdaq all reports and other documents filed or required to be filed with the Securities and Exchange Commission.

Do you think saying they received an “automated notice” downplays the significance? Although it may be technically correct, do you think the press release deliberately attempts to downplay this event?

Related posts:

  1. Usana got its official delisting letter from NASDAQ
  2. NASDAQ delisting letter sent when SEC filings are delinquent
  3. Nasdaq Gives Merge a July 7 Deadline
  4. Usana tries to spin NASDAQ news into something else
  5. MLM attorney Gerald Nehra and the FTC’s proposed Business Opportunity Rule

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