The NYSE will delist the ADRs of Chinese software company Longtop Financial (LFT), which have been halted since May amid concerns about accounting irregularities. During that month, Longtop's auditor and CFO quit, and the SEC opened an inquiry into unspecified auditing issues.
Longtop Financial Technologies (LFT) says its CFO and auditor have both resigned and that the SEC has opened an inquiry into unspecified auditing issues. Longtop is the largest of the Chinese stocks whose trading has been halted, with a market cap in excess of $1B. (PR)