Reuters: Regulatory News: UPDATE 1-Diamond Foods receives NASDAQ determination letter

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UPDATE 1-Diamond Foods receives NASDAQ determination letter Jun 14th 2012, 20:30 June 14 | Thu Jun 14, 2012 4:30pm EDT June 14 (Reuters) - Diamond Foods Inc said it received a letter from the Nasdaq notifying the company that it had missed its deadline for filing of its already delayed quarterly reports. Last week, the snack food maker had said it would miss its June 11 deadline to file restated financial statements, which could lead to a delisting from the Nasdaq. Diamond plans to request a hearing before a Nasdaq panel. The Nasdaq informed the company that a hearing request will stay any delisting for an additional 15 days, or until July 5, unless Diamond requests that the stay be extended pending the hearing. Diamond said it intends to request that the stay remain in effect pending the hearing, and during the period of the stay, it will work to finalize all of its delayed filings. Shares of the company, which is under scrutiny for its accounting practises, closed at $18.64 on the Nasdaq on Thursday.

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