Robot Consulting appeals Nasdaq delisting while trading remains halted

Robot Consulting ($LAWR) has filed an appeal against Nasdaq's previously announced decision to remove its American depositary shares from the exchange. The Japanese software provider said the appeal pauses the delisting suspension and Nasdaq's formal removal filing while a hearings panel considers the case. The new procedural step preserves the company's opportunity to contest removal, but does not restart trading.

The existing halt will remain until Nasdaq lifts it, leaving shareholders unable to trade the securities on the exchange. Nasdaq's decision concerned historical trading patterns and the potential for manipulation by third parties. Robot Consulting said the exchange had not alleged wrongdoing by the company itself. Management also said the determination had no immediate effect on operations or financial condition, and business would continue normally.

Sources:

• accessnewswire.com
• Release via StockTitan