NEW YORK—Comverse Technology Inc. said it needs more time to comply with Nasdaq listing requirements related to the company’s Securities and Exchange Commission filings.
The company, which has been embroiled in a stock-options investigation, said it submitted a request to the Nasdaq Listing Qualifications Panel for an additional extension to filing deadlines it is facing. Comverse’s stock-option practices have prompted a criminal investigation by the U.S. Attorney for the Eastern District of New York, and several of the company’s top leaders have resigned in the wake of the investigation. The investigation caused the company to miss deadlines to file its annual report and one quarterly report, which puts its stock in danger of being delisted from the Nasdaq exchange.
Comverse previously won a reprieve from the panel in late June with a new deadline of Aug. 18 for its annual report and Sept. 1 for its quarterly report.
The company is now asking the panel to allow it to file both reports by Sept. 25.
