Eargo slides to fresh record low on delayed quarterly filing

Eargo

12/05/2022 16:13

(Updates)
    ** Hearing aid maker's shares  EAR.O  fall 22.9% to $1.31,
touching a record low for the seventh straight trading session  
    ** Co expects it will not be able to file its quarterly
filing with securities regulators on time, and anticipates that
the Nasdaq may take additional action (https://bit.ly/3w8XL3T)
    ** Co in November and March also delayed its "10-Q" filing
with the U.S. SEC, and Nasdaq notified co it was not in
compliance with its listing rules
    **  Nasdaq's notification in March said that any other
exception to allow co to remain listed would be limited to May
16
    ** EAR in September said it was being investigated by DoJ
related to insurance reimbursement claims submitted by EAR on
behalf of customers covered by Federal employee health plans;
agreed to pay $34.4 mln in April to settle with the DoJ
 urn:newsml:reuters.com:*:nL3N2WR40M
    ** Including session losses, stock has lost nearly
three-fourth of its value this year 

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))