Naz warning over late file 10-Q
3:15 pm ET
DALLAS, Feb. 27, 2013 (GLOBE NEWSWIRE) -- On February 22, 2013, Tandy Brands Accessories, Inc. (TBAC) (the "Company"), a leading designer and marketer of branded men's, women's and children's accessories, received a notification letter from the Nasdaq Global Market ("Nasdaq") stating that because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended December 31, 2012 (the "10-Q") with the Securities and Exchange Commission (the "Commission"), it was not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250(c)(1). This press release is being issued in accordance with Nasdaq Listing Rule 5810(b).
Under the Nasdaq listing rules the Company has 60 days to submit a plan to Nasdaq to regain compliance with the applicable listing rule. Upon acceptance of the Company's compliance plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the 10-Q's initial due date, or until August 13, 2013, to regain compliance with Nasdaq's filing requirements for continued listing.
The Nasdaq notice has no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Global Market. The Company intends to file its 10-Q with the Commission as soon as practicable and, if necessary, the Company will submit a plan to regain compliance with Nasdaq's filing requirements within the 60 day period.
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