TuSimple gets Nasdaq delisting notice after missing timely quarterly report

CreateAl Holdings

11/05/2023 14:37

May 11 (Reuters) - TuSimple Holdings Inc  TSP.O  said on
Thursday it has received a delisting notice from the Nasdaq as
the autonomous driving technology company did not file its
quarterly report on time.
    The exchange intends to suspend trading of company's stock
on May 15 unless it files an appeal, the company said. 
    TuSimple last reported quarterly results for the three-month
period ended Sept. 30 in late October. It said in March that it
failed to file its 2022 annual report on time as it needed more
time to select new principal accountants.
    The company said on Thursday it has appointed UHY as its new
independent registered public accounting firm for 2022.
    The San Diego-based company had announced a restructuring in
December and cut about 350 employees after removing its CEO
Xiaodi Hou in October following a board investigation.
    The probe revealed that some employees spent paid hours last
year working for Hydron Inc, a startup working on autonomous
trucks mostly in China.

 (Reporting by Tanya Jain and Akash Sriram in Bengaluru)
 ((Tanya.Jain@thomsonreuters.com;))