Daily Journal Corp , the downtown Los Angeles publisher of newspapers covering the legal world, announced Wednesday it will continue to be listed on the Nasdaq.
The news followed Monday’s release of earnings reports covering nine months of business that included periods when Daily Journal Corp. failed to file quarterly earnings on time. The new filings brought Daily Journal Corp. up to date on its reporting requirements, which in turn made it possible for the company to stay on the Nasdaq.
Investor Charlie Munger is chairman of Daily Journal, and the delays took place after the firm’s portfolio increased in value, triggering new reporting requirements.
Nasdaq officials had announced their decision to remove Daily Journal Corp. from its stock listings in early July, although the publisher was given time to appeal. Daily Journal changed auditors at the time.
Daily Journal Corp.’s publications include the Los Angeles Daily Journal and California Lawyer. In its recent earnings, the company reported a $46,000 pretax loss for the nine months ended June 30, compared with $4.1 million in pretax net income earned during the same period one year prior.
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