SEC Action Deadline Extended On Nasdaq Shareholder Approval Rule Change

As we previously blogged, Nasdaq Stock Market LLC filed a proposed rule change with the Securities and Exchange Commission to change their listing requirements under Nasdaq Rule 5635(d), which relates to shareholder approval.

On August 16, 2018, the SEC announced that it would further extend its deadline to approve or reject the rule change to October 18, 2018, or 240 days from the date the proposed rule change was published for notice and comment in the Federal Register. The SEC noted that it would use the action deadline extension to review the proposed change and the comment letters it has received.

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