China MediaExpress Holdings, Inc. (fka CCME)

[stockgenius]

From NASDAQ website:

https://listingcenter.nasdaqomx.com/Show_Doc.aspx?File=FAQsDiscAuth.html

Discretionary Authority
This section discusses NASDAQ's discretionary authority with respect to initial and continued listing.

Does NASDAQ have the authority to delist a company that otherwise meets the quantitative and qualitative criteria for initial or continued listing?
Yes. As set forth in Listing Rule 5101 and IM-5101-1, in addition to applying the enumerated criteria set forth in Rules 5300, 5400, 5500 and 5700, NASDAQ will exercise broad discretionary authority over the initial and continued inclusion of securities in NASDAQ in order to maintain the quality of and public confidence in its market. (Updated: July 14, 2009)

Are there any particular circumstances under which NASDAQ will apply additional and more stringent criteria, and suspend and/or delist a company's securities, pursuant to its discretionary authority?
Yes. As set forth in Listing Rule 5101 and IM-5101-1, NASDAQ may determine to suspend or terminate a listing if: a company files for bankruptcy protection; a company's independent auditors issue a disclaimer opinion on the financial statements that are required to be certified; or NASDAQ deems it necessary to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, or to protect investors and the public interest. NASDAQ may deny initial or continued listing to a company when an individual with a history of regulatory misconduct is associated with the company. Such individuals are typically an officer, director, substantial security holder or consultant to the company. In addition, NASDAQ may determine to suspend or terminate a listing if a company fails to submit requested information, or makes any communication to NASDAQ containing a material misrepresentation or omits material information necessary to make a communication to NASDAQ not misleading. (Updated: July 14, 2009)