July 2 Diamond Foods Inc said it
received an approval from a Nasdaq panel for a stay on delisting
its stock until a hearing, after the company missed the deadline
for filing its already-delayed quarterly reports.
Nasdaq told the snack food maker last month that it had
missed the deadline for filing its restated financial reports,
which could lead to a delisting from the stock exchange.
Diamond's hearing is scheduled for July 26 and the company
said there was no guarantee that it would be able to file its
reports with the U.S. Securities and Exchange Commission on the
The company was scheduled to report its restated accounts on
June 11 for fiscal 2010 and 2011 after an investigation
uncovered improper accounting.
Diamond shares were up 1.6 percent after the bell. They
closed at $18 on Monday on the Nasdaq.