MANCHESTER, NH – Minim, Inc. (NASDAQ:MINM), a manufacturer of telephone and telegraph apparatus, has successfully secured an extension on the temporary restraining order (TRO) that prevents The Nasdaq Stock Market from delisting the company's common stock. The TRO, initially granted by the Supreme Court of the State of New York, Kings County, on August 20, 2024, was extended until September 30, 2024, following a stipulation by both parties.
The extension came after the U.S. District Court for the Eastern District of New York remanded the case to the State Court on September 4, 2024. Oral arguments are set to be heard by the State Court on the extended date.
Minim, Inc., which previously operated under the name Zoom (NASDAQ:ZM) Telephonics, Inc., encountered the risk of delisting from Nasdaq, prompting the company to seek legal action to maintain its listing. The TRO was a critical measure to halt the delisting process temporarily.
The company's management has expressed forward-looking statements regarding the benefits of their legal plan to prevent delisting, emphasizing their belief in the potential positive outcomes.
These statements, however, are subject to various risks and uncertainties that could cause actual results to differ significantly from expectations.
Minim, Inc. has not provided any additional financial statements or exhibits in this recent SEC filing. The company's CEO, David Lazar, signed off on the report today, reiterating the company's commitment to addressing the delisting issue and complying with the necessary legal processes.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.