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Nasdaq Panel Denies Platinum Analytics Appeal, Orders Delisting
Platinum Analytics Cayman Limited announced that on September 21, 2026 it received notice from The Nasdaq Stock Market LLC that the Nasdaq Hearings Panel denied its request to reinstate trading and determined to delist the Company's securities. The Panel affirmed Nasdaq Staff's earlier delisting determination under Nasdaq Listing Rule IM-5101-4 following a hearing held on August 18, 2026, basing its decision principally on trading activity indicative of potential manipulation and the Company's failure to demonstrate sufficient liquidity to support a fair and orderly market. The Panel rejected Staff's arguments concerning the Company's professional advisors and the Singapore residence of its chief executive officer, finding neither constituted valid grounds for delisting. Trading in the Company's securities was suspended at the opening of trading on September 23, 2026. Platinum Analytics intends to request that the Nasdaq Listing and Hearing Review Council review the Panel Decision under Nasdaq Listing Rule 5820, though such a request will not stay the suspension or delisting, and there can be no assurance the review will succeed or that trading will resume on Nasdaq.
PLTS · Regulation · Negative Nasdaq Hearings Panel denied its appeal and ordered delisting under Listing Rule IM-5101-4, suspending trading in its securities.