NYSE sends deficiency letter to Lazare Kaplan

The New York Stock Exchange (NYSE) has sent a deficiency letter to Lazare Kaplan International on behalf of NYSE AMEX, on account of Lazare Kaplan failing to file its quarterly report on Form 10-Q, for the three months that ended February 28, 2010, reports say. The NYSE letter states that timely filing of financial reports is a requisite for a company to carry on listing on the exchange, and that failure to file a timely report also results in material violation of listing agreements.

Lazare Kaplan had filed a notification on April 14, mentioning that its results would be delayed with the Securities and Exchange Commission.

In January 2010, the NYSE had accepted Lazare Kaplan's plan of compliance by which it would be brought into listing compliance. The company was given the deadline of May 31 to assume compliance.