Nasdaq is delisting the common stock of Revolution Lighting Technologies, ending – at least for the time being – a months-long saga over whether the Stamford firm would remain on the exchange.
Revolution’s stock has not traded on Nasdaq since it was suspended on Oct. 14.
Revolution Lighting’s recent problems have included the discovery of errors in its previously filed financial statements for 2015-17 and for the first two quarters of 2018; the subsequent resignation of accounting firm RSM US LLP and of CFO James DePalma in May – he was replaced by Joan Nano – and an offer by Chairman, CEO and President Robert V. LaPenta to take the company private, which he later rescinded.
In the midst of that upheaval it has been threatened with delisting several times.
Now the company has received an email from Nasdaq notifying it of its delisting, which will become effective Dec. 26.
Revolution Lighting had no immediate comment on the matter. Its last official press release, issued on Aug. 22, announced its receipt of an additional delisting determination letter from Nasdaq.