Hanger Inc. recently announced the receipt of notification from the New York Stock Exchange that Hanger’s plan to regain compliance with continued listing requirements has been accepted.
The New York Stock Exchange (NYSE) notified Hanger in March that, as a result of the company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ending Dec. 31, 2014, Hanger did not meet the NYSE’s continued listing requirements under the timely filing criteria as detailed in Section 802.01E of the NYSE Listed Company Manual.
Hanger submitted a plan of compliance to the NYSE on Sept. 9, 2015, which was accepted on Sept. 18, 2015. The NYSE also granted Hanger an extension until March 19, 2016 to regain compliance with the NYSE’s continued listing standards. Hanger will be subject to reassessment by the NYSE during the extension period. If Hanger fails to make progress consistent with the plan, the NYSE could accelerate trading suspension prior to March 19, 2016. If Hanger does not complete its late filings by March 19, 2016, the NYSE will move forward with the initiation of suspension and delisting procedures.