Nasdaq notifies Smart Digital Group of delisting after SEC trading suspension
Nasdaq issued a delisting determination notice on June 17, 2026, following an SEC trading suspension that began Sept. 29, 2025.The exchange cited heightened risk of third-party price manipulation tied to limited liquidity as the basis for the delisting decision.Unless an appeal is filed by 4 p.m. ET on June 24, trading will be suspended at the open on June 26.If no appeal is lodged, Nasdaq plans to file to complete the delisting; an appeal would pause the delisting process pending a panel decision.The company is consulting advisers on an appeal and next steps, while noting the delisting action does not affect operations or financial position.
Smart Digital Group Faces Securities Class Action Over Alleged Market Manipulation
A federal securities class action has been filed against Smart Digital Group Ltd., alleging the company and its executives made false or misleading statements and failed to disclose involvement in a market manipulation and fraudulent promotion scheme. The complaint claims insiders used offshore or nominee accounts to coordinate share dumping during a price inflation campaign, and that key risks of fraudulent trading were omitted from public disclosures. Investors who purchased Smart Digital securities between May 5, 2025, and September 26, 2025, face a March 16, 2026 deadline to seek lead plaintiff status in the litigation.