Marrone ordered to submit Nasdaq filing plan
The US Nasdaq stock exchange has ordered US biopesticide company Marrone Bio Innovations (MBI - Davis, California) to submit a plan to regain compliance with the Nasdaq's filing requirements after the failure to submit its financial results for the third quarter of 2014. The company has 60 days from the Nasdaq notification to submit such a plan. Upon acceptance of the plan, the Nasdaq can grant an extension of up to 180 days for the quarterly filing to be made. MBI says that it plans to file its results when it has completed its investigation of alleged violations of federal securities laws. The company is looking into an $870,000 transaction in the fourth quarter of 2013. MBI is unable to estimate when the investigation will be completed or when its Nasdaq filing will be made.