Sonus Delisting Notice

The networker seeks a hearing.
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Sonus (SONS) earned a delisting warning from the Nasdaq for being tardy with its financial filings.

The Chelmsford, Mass., Internet phone-switch maker says it received a letter Monday from the exchange saying it is in violation of trading rules for not filing a financial report from the second quarter ended in June.

The company said it is seeking a hearing with the Nasdaq to preserve its trading status.

Sonus is among dozens of companies that have launched reviews of executive stock options in the wake of the widening grant backdating scandal. Due to the internal inquiry, the company said last week that it would not make its filing deadline.

The news comes as regulators and prosecutors investigate possible option missteps that may have inflated executive pay and led to accounting and disclosure problems.

Sonus shares fell a penny to $4.74 in postclose trading Wednesday.