Shares of Irvine-based Diedrich Coffee Inc. fell 3.6% Tuesday after the company said it received a Nasdaq delisting notice.
Diedrich was given the notice for failing to file its quarterly report for the period ended March 9 with the Securities and Exchange Commission.
Diedrich is threatened with losing its trading spot on Nasdaq.
The company announced after the closing bell Monday that it would request a hearing before a Nasdaq panel to appeal the notice.
The coffee retailer has delayed submitting the report because of a still-uncompleted review of its method of accounting for property leases.
Meanwhile, Nasdaq has added an “E” onto the company’s DDRX ticker to show that the company is out of compliance with listing rules. Nasdaq notified the company of its violation on May 17.
In early May, Diedrich announced that it expected to restate its annual financial results for the year ended July 3, 2002, and its annual and quarterly results for the years ended July 2, 2003, and June 30, 2004.
Shares of Diedrich, which has more than 197 stores, finished trading at $4.47 Tuesday.
