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Logitech International SA receives expected Nasdaq notice related to delay in 10-K filing

Wednesday, 4 Jun 2014 10:00pm EDT 

Logitech International SA:Says that, as expected, the company received a standard notice from Nasdaq stating that Logitech is not in compliance with Nasdaq listing rule that requires timely filing of reports with U.S. Securities and Exchange Commission - Rule 5250(c)(1).June 3, letter was sent as a result of Logitech's delay in filing its FY 2014 10-K for year ended March 31, 2014, which the company announced on May 21.Nasdaq notice has no immediate effect on listing or trading of Logitech's common stock on Nasdaq Global Select Market. Under the Nasdaq rules, the company has 60 days to submit a plan to regain compliance.If the plan is accepted, Logitech could be granted up to 180 days from the 10-K's due date to regain compliance.Expects to submit a plan to regain compliance within the timeline prescribed by Nasdaq.Logitech plans to file its 10-K as soon as possible, following the completion of an investigation of certain accounting matters related to the company's previously issued financial statements, and related work necessary to file the 10-K.