Ecology and Environment Inc. Provides Update on Status of Filings
May 13 2019 - 6:00PM
Ecology and Environment Inc. (Nasdaq: EEI) (E & E, or the
“Company”) announced that the Company was unable to meet the
deadline granted by the Listing Qualifications Department of the
Nasdaq Stock Market (“Nasdaq”) related to delinquencies in filing
its Annual Report on Form 10-K for the fiscal year ended July 31,
2018 and its Quarterly Reports on Form 10-Q for the periods ended
October 27, 2018 and January 26, 2019 (the “Delinquent Reports”).
Under the terms of an exception previously granted by Nasdaq, the
Company was required to file the Delinquent Reports with the
Securities and Exchange Commission (“SEC”) on or before today’s
date to regain compliance with Nasdaq Listing Rule 5250(c)(1).
E & E anticipates that it will receive a letter from Nasdaq
advising the Company of its continued non-compliance. The Company
will respond in a timely manner to the letter, once received, and
will take all necessary measures to regain compliance and retain
its listing status. There will be no immediate impact on the
listing or trading of the Company’s common stock on Nasdaq. E &
E continues to work diligently to complete the Delinquent Reports
and file them with the SEC.
The Company also announced today the resignation of JoAnn Shea,
its Chief Administrative Officer, effective May 17, 2019. Ms. Shea
joined the Company in August 2018 with responsibility for oversight
of the Company’s accounting and finance, human resources, and
information technology functions, and served as a member of E &
E’s Operations Committee. “We thank JoAnn for sharing her talents
with E & E and for leading many initiatives to improve our cost
structure and operations, and we wish her well in her future
endeavors,” said Marshall A. Heinberg, Executive Chairman of the
Company. “We are also pleased to announce that Kurt Zmich, Senior
Vice President of U.S. Operations, will join E & E’s Operations
Committee. Kurt has played a key role in driving improved
performance as we continue to work towards greater growth and
exceptional service to our clients.”
About E & EE & E is a global network of
innovators and problem solvers, dedicated professionals and
industry leaders in scientific, engineering, and planning
disciplines working collaboratively with clients to develop
technically sound, science-based solutions to the leading
environmental challenges of our time. The company is listed on the
Nasdaq Stock Exchange under the ticker symbol EEI and the
information in this release can be found online at www.ene.com.
Contact:Sara HerrmannCorporate Communications Manager(716)
684-8060sherrmann@ene.com
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