The Nasdaq Stock Market LLC notified Asta Funding Inc. that it was not in compliance with the exchange's listing rules due to failure to hold an annual shareholder meeting for the fiscal year ended Sept. 30, 2017.

In connection with this, Nasdaq required the company to present its views on the additional delinquency to a Nasdaq panel by Oct. 9.

The company was earlier notified that it was not in compliance with a Nasdaq ruling after failing to file several periodic regulatory filings with the U.S. Securities and Exchange Commission. Nasdaq, however, decided to continue the company's listing provided that it files all reports with the SEC by Nov. 30.