The Nasdaq stock exchange has had a look at Synchronoss’ belated accounts and decided everything is now sufficiently in order for it to be re-listed.
Regular readers of Telecoms.com will be familiar with the accounting soap opera that has plagued cloud services vendor Synchronoss for the past couple of years, resulting in it being kicked off the Nasdaq earlier this year. Accounts were finally filed in July and it will presumably be of immense relief to everyone connected to the company that the man from Del Nasdaq, he say yes.
“This is a major milestone for Synchronoss,” said Synchronoss CEO Glenn Lurie. “Meeting our SEC financial reporting obligations and Nasdaq listing requirements has been a top priority since I joined the company last November, and the lifting of the Nasdaq suspension achieves that objective.”
“We are now exclusively focused on executing on our strategic priorities and laying the foundation for improved growth and profitability in 2019 and beyond. We are in the right place at the right time to prosper as the telecommunications, media and technology industry turns to digital innovation.”
That’s the ultimate point. Lurie can reasonably claim none of the responsibility for the mess created by the previous administration (although he presumably did his due diligence before joining) and now that it’s all sorted he just wants to get on with the day job. That’s fair enough and it would presumably help if hacks didn’t keep digging up the past, but what can you do? You can start trading SNCR on the Nasdaq again from next week.