Veradigm, previously known as Allscripts, said it received a notice from Nasdaq stating that its shares would be delisted due to noncompliance.
According to Veradigm, this is because the company did not file its annual report on form 10-K for the year ending Dec. 31, its quarterly report on form 10-Q for the quarter ending March 31, or a quarterly report on form 10-Q for the quarter ending on June 30, 2023.
The company was supposed to file these forms before the expiration of a 180-day exception period previously granted by Nasdaq, according to a Sept. 22 news release from Veradigm.
Veradigm said it could not file due to "internal control failures that primarily stem from accounting processes and a software tool," according to the release.
Veradigm is looking to appeal Nasdaq's decision.