Apple's Beats brand in April unveiled the Powerbeats Pro, a redesigned wire-free version of its popular fitness-oriented Powerbeats earbuds.
Apple Nasdaq Notice and Quarterly Filing
This delay has prompted a warning from Nasdaq that Apple is not in compliance with the exchange's rules:
"We fully anticipated receipt of this letter," Apple spokeswoman Katie Cotton told CNET News.com. "It's a matter of procedure. We're focused on resolving this matter as quickly as possible."
Meanwhile, Apple has requested a hearing and Apple's stock will remain listed in Nasdaq pending that hearing.
As first announced on June 29, 2006, an internal investigation discovered irregularities related to the issuance of certain stock option grants made by the Company between 1997 and 2001, and the Company has proactively informed the SEC. The Company is focused on resolving these issues as quickly as possible and plans to file its Form 10-Q following completion of the independent investigation by the special committee of Apple's outside directors.