Mar. 20 at 1:49 PM
$OPGN In the litigation case that OPGN filed with the SEC, OPGN provided its last reply on March 17. So the SEC is now in deliberation period.
I asked Gemini to find me precedents in similar cases, it provided me with a long research but below are key excerpts from what I got from Gemini:
- There are precedents where the SEC has vacated delisting determinations—or "stayed" them—specifically when a company demonstrates that an exchange failed to follow its own procedural rules.
- The SEC established that while exchanges have broad discretion, they must strictly adhere to the specific procedural steps outlined in their own rulebooks. If an exchange skips a mandatory hearing or notice period, the SEC has the grounds to vacate the decision.
- The SEC might rule to suspend the delisting decision until a final review is completed or request the Nasdaq to review the case. Such ruling might be made in few days.
Here are the document for this case.
https://www.sec.gov/enforcement-litigation/administrative-proceedings/3-22532
