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Nasdaq panel extends stay of suspension of trading in Atlas Financial shares

A Nasdaq Hearings Panel extended the stay of suspension of trading in Atlas Financial Holdings Inc.'s securities.

The automatic stay of suspension was only supposed to remain effective until Aug. 13. However, there is no guarantee that the panel will permit a further extension or that the insurer will be able to regain compliance with the requirements.

Atlas Financial expects to receive more information in late September or early in the fourth quarter.

In late July, the company received a determination letter from Nasdaq, stating that the company failed to comply with its listing requirements. Prior to that, Atlas Financial received a delinquency notice from Nasdaq for failing to file its Form 10-K for 2018 and its Form 10-Q for the quarter ended March 31 on time.

Nasdaq informed the company that it has until Dec. 10 to regain compliance with the listing rules.