Willamette Valley Vineyards faces delisting
Thursday, April 24, 2008 5:31 PM
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Nasdaq has warned Willamette Valley Vineyards that it faces delisting for not filing its annual report in a timely fashion, the company announced late Thursday.
The company plans to request an appeal hearing.
On April 21, Turner-based Willamette Valley Vineyards (NASDAQ: WVVI) filed a form with the Securities and Exchange which said it expects to file the annual report this week. The company is working with its independent auditors to complete its audit and "is not able at this time to predict with certainty how long this will take."
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The news was announced after the close of markets. Shares were down more than 2 percent Thursday to $6.88.
Shares have a 52-week range between $5.08 and $7.50.
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