Summary by Moomoo AI
Minim Inc. has been engaged in a legal battle to prevent the delisting of its common stock from the Nasdaq Stock Market. The company was granted a temporary restraining order (TRO) by the Supreme Court of the State of New York on August 20, 2024, which was effective until September 5, 2024, and later extended to September 30, 2024. Despite these efforts, on October 18, 2024, the court denied Minim's request for a preliminary injunction, leading to the company discontinuing its case against Nasdaq on October 22, 2024. Nasdaq announced its intention to delist Minim's stock on October 23, 2024, and filed a Form 25 with the SEC to remove the company's securities from listing, effective November 4, 2024. Minim filed an Application for Review with the SEC on October 25, 2024, and an emergency stay of the delisting. On November 1, 2024, the SEC granted an administrative stay of the delisting pending further order, allowing time to consider Minim's motion for a stay. Minim continues to dispute the process of its delisting, claiming it was denied proper review and appeal procedures under Nasdaq Rules.
