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Nasdaq accuses Franklin Credit of delinquency; company requests hearing


Published : Tue, 27 Nov 2007 15:14
By : Agencies
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NEW YORK (Thomson Financial) - Franklin Credit Management Corp. Tuesday said it will request a hearing with the Nasdaq listing qualifications panel after receiving a delinquency notice from the stock market.

The Nasdaq said Franklin was delinquent because it failed to file its third-quarter report with the Securities and Exchange Commission on time. If the Nasdaq panel finds the company to be delinquent, it will be delisted. Because it has requested a hearing, any possible delisting will be postponed, pending the panel's decision.

Franklin, a New York-based credit management company, said it expects to file its report before Dec. 31.

Shares of Franklin closed Monday at 35 cents.

Ryan Vlastelica

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