Ditech Holding Corp. has received a late filing notice from the New York Stock Exchange indicating that the company is not in compliance with the NYSE's continued listing requirements due to the company's failure to timely file its quarterly report on Form 10-Q for the period ended March 31.
The company attributed the delay to the fact that it failed to file its Form 10-K by the due date for the fiscal year ended Dec. 31, 2017. The company added that the failure to file the Form 10-Q is also due to certain accounting and financial reporting matters, including the application of fresh start accounting in connection with the company's emergence from Chapter 11 Bankruptcy on Feb. 9.
Ditech Holding will have six months from May 21 to file the Form 10-Q with the SEC in order to regain compliance, according to a company release.
If the company fails to file the Form 10-Q before the NYSE's compliance deadline, the NYSE may grant, at its sole discretion, an extension of up to six months for the company to regain compliance, depending on the specific circumstances.
