This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lazare Kaplan International Inc. Announces Plan Of Compliance Extension To May 31, 2010 And Receipt Of Deficiency Letter

NEW YORK, Jan. 29 /PRNewswire-FirstCall/ -- Lazare Kaplan International Inc. (the "Company") announced today that, pursuant to a Letter dated January 25, 2010 (the "Letter") it received from NYSE Regulation (the "Staff") on behalf of NYSE AMEX LLC (the "Exchange"), the Staff granted the Company an extension until May 31, 2010 (the "Extension Period") to regain compliance with the Exchange's continued listing standards.  The Company will be subject to periodic review by the Staff during the Extension Period. Failure of the Company to make progress consistent with the Plan or to regain compliance with the continued listing standards by the end of the Extension Period could result in the Company being delisted from the Exchange.  As previously announced by the Company, on December 31, 2009, the Company submitted to the Staff, on behalf of the Exchange, a supplement to its Plan of Compliance originally submitted to the Staff on October 7, 2009 (the "Plan"), requesting an extension of the Exchange's delisting deadline to May 31, 2010.

Additionally, the Letter also related to the Company's failure to timely file its Quarterly Report on Form 10-Q (the "Q2 Form 10-Q") for the quarter ended November 30, 2009. The Company filed with the Securities and Exchange Commission a Notification of Late Filing on Form 12b-25 pertaining to its Quarterly Report on Form 10-Q (the "Q2 Form 10-Q") for the quarter ended November 30, 2009. The Company has yet to file the Q2 Form 10-Q.  In the Letter, the Staff informed the Company that the timely filing of the Q2 Form 10-Q is a condition for the Company' continuing listing on the Exchange, as required by Sections 134 and 1101 of the Exchange's Company Guide (the "Company Guide").  The Company's failure to file the Q2 Form 10-Q is a material violation of its listing agreement with the Exchange. Pursuant to 1003(d) of the Company Guide, the Exchange is authorized to suspend, and unless prompt corrective action is taken, remove the Company's common stock from the Exchange.

Lazare Kaplan International Inc. sells its diamonds and jewelry products through a worldwide distribution network. The Company is noted for its ideal cut diamonds, which it markets internationally under the brand name, Lazare Diamonds®.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $132.78 1.10%
FB $80.88 0.50%
GOOG $541.13 -0.25%
TSLA $248.02 0.98%
YHOO $43.56 -0.26%

Markets

DOW 18,269.21 -16.53 -0.09%
S&P 500 2,130.44 -0.38 -0.02%
NASDAQ 5,098.5390 +7.7450 0.15%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs