ALERE INC. (NYSE:ALR) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item3.01.
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On March17, 2017, Alere Inc. (the Company or Alere)
received a notice from the New York Stock Exchange (the
NYSE) indicating that the Company is not in compliance
with the NYSEs continued listing requirements under the timely
filing criteria established in Section 802.01E of the NYSE Listed
Company Manual as a result of its failure to timely file its
Annual Report on Form 10-K for the fiscal year ended December31,
2016 (the 2016 Form 10-K).
As reported by the Company in its Form 12b-25 filed with the
Securities and Exchange Commission (the SEC) on March1,
2017, the Company was unable to file the 2016 Form 10-K within
the prescribed time period without unreasonable effort or
expense.The extension period provided under Rule 12b-25 expired
on March16, 2017.As reported by the Company in its Form 8-K filed
with the SEC on March15, 2017, the Company was unable to file the
2016 Form 10-K within the extension period because it is
continuing to review certain aspects of revenue recognition at
its Korean and Japanese locations, including inappropriate
conduct at the Companys subsidiary in South Korea, Standard
Diagnostics, Inc.The Company will not be able to file the 2016
Form 10-K until this analysis is completed.
The NYSE informed the Company that, under the NYSEs rules, the
Company will have six months from March16, 2017 to file the 2016
Form 10-K with the SEC.The Company can regain compliance with the
NYSE continued listing requirements at any time before that date
by filing the 2016 Form 10-K with the SEC.The Company will file
the 2016 Form 10-K as soon as practicable.If the Company fails to
file the 2016 Form 10-K before the NYSEs compliance deadline, the
NYSE may grant, at its sole discretion, an extension of up to six
additional months for the Company to regain compliance, depending
on the specific circumstances.The letter from the NYSE also notes
that the NYSE may nevertheless commence delisting proceedings at
any time if it deems that the circumstances warrant.
| Item8.01. | Other Events. |
Attached as Exhibit 99.1 hereto, and incorporated herein by
reference, is a copy of the Companys press release dated March
21, 2017, announcing the receipt of the NYSE notice.
| Item9.01 | Financial Statements and Exhibits. |
(d)Exhibits.
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EXHIBITNO. |
DESCRIPTION |
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| 99.1 | Press Release dated March 21, 2017. |
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About ALERE INC. (NYSE:ALR)
Alere Inc. is a provider of health information through diagnostic tests. The Company’s segments include professional diagnostics, consumer diagnostics, and corporate and other. The professional diagnostics segment includes an array of diagnostic test products and other in vitro diagnostic tests marketed to medical professionals and laboratories for detection of diseases and conditions within its areas of focus. The consumer diagnostics segment consists primarily of manufacturing operations related to its role as the exclusive manufacturer of products for SPD Swiss Precision Diagnostics (SPD), its joint venture with The Procter & Gamble Company (P&G). The Company’s professional diagnostic solutions allow patients and their healthcare providers to work together to manage patients’ conditions over the continuum of care, from the hospital to home. The Company offers lines of drugs-of-abuse tests, reagent systems and laboratory testing options. ALERE INC. (NYSE:ALR) Recent Trading Information
ALERE INC. (NYSE:ALR) closed its last trading session down -0.14 at 38.27 with 348,982 shares trading hands.
