Trading Cloopen Group Shares Halted as Filing Deadline Looms >RAAS

Dow Jones2023-05-18

By Colin Kellaher

Trading in shares of Cloopen Group Holding has been halted all day Wednesday as the deadline imposed by the New York Stock Exchange for the company to file its 2021 annual report approaches.

The Beijing-based cloud-based communications solution provider, which last year said it had uncovered employee misconduct and transaction irregularities that inflated its revenue, had until Wednesday to file the 2021 annual report with the Securities and Exchange Commission under an extension granted by the NYSE.

Cloopen warned in November that if it hadn't filed the 2021 annual report and any subsequent delayed filings with the SEC by Wednesday, the NYSE would move forward with the initiation of suspension and delisting procedures.

Cloopen still hasn't filed the documents, according to the SEC's website.

NYSE representatives didn't immediately return requests for information regarding Cloopen's trading status.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

May 17, 2023 12:55 ET (16:55 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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