Reston-based NCI Inc. (NASDAQ: NCIT), which has launched an investigation into its allegations of embezzlement by a former employee, is now staring down the threat of getting delisted from the Nasdaq stock exchange, according to regulatory filings.
Nasdaq notified NCI March 21 that the company was not in compliance with the exchange’s rules because it hadn’t released its annual financial information for 2016 in a timely fashion, according to documents filed Friday with the Securities and Exchange Commission. NCI has until May 22 to submit a plan for getting back into compliance, or else it could see its shares removed from the exchange.
NCI said in a statement it expects to file its annual financials ” as soon as reasonably practicable” and “intends to do so in time for the deadline.” In doing so, NCI plans to “regain compliance with the NASDAQ continued listing standards” before having to submit a compliance plan at all.
NCI is in the midst of an internal investigation of its former…
