DZS granted request for continued listing on Nasdaq Stock Market

DZS announced that by decision dated April 23, 2024, the Nasdaq Hearings Panel granted the request of DZS for continued listing on The Nasdaq Stock Market, subject to the Company’s compliance with Nasdaq’s filing requirement by August 5, 2024, among other conditions. “We are pleased with the Panel’s decision to grant DZS an extension to become current in our SEC filing obligations,” said Misty Kawecki, Chief Financial Officer, DZS. “The leadership team at DZS is working closely with its Audit Committee and the Company’s new independent registered public accounting firm, BDO USA LLP, to complete and file all restated financial statements and delinquent reports by the August 5th deadline to ensure that we are compliant with all applicable criteria for continued listing on Nasdaq.” Additionally, in January 2024, DZS appointed two new Board members, Todd Jackson and Paul Choi, thereby increasing its Board of Directors to eight members. After six years of serving as a member of the Board of Directors, David Schopp is resigning his position from the Company’s Board of Directors effective May 27, 2024. The Board will consider whether to fill the vacancy or decrease the Board size to seven following the effectiveness of Mr. Schopp’s resignation.