SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): June 8, 2011
(Exact Name of Registrant as Specified in Charter)
(State or other jurisdiction of incorporation)
(Former Name or Former Address, If Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
SECTION 3 - Securities and Trading Markets
On June 8, 2011, ShengdaTech, Inc. (the “Company”) received a letter from the Listing Qualifications Hearings Department of The NASDAQ Stock Market LLC (“Nasdaq”) stating that the Nasdaq Hearings Panel has determined to deny the request of the Company for continued listing on Nasdaq and will suspend trading of the Company’s shares effective at the open of business on Friday, June 10, 2011 (the “Notice”)
The Nasdaq Hearings Panel held a hearing on May 26, 2011 to consider the Company's continued listing on the Nasdaq in light of the Company's violation of certain Nasdaq listing rules. The Nasdaq Hearings Panel held that pursuant to its discretion under Nasdaq listing rule 5100, it would deny continued inclusion of the Company’s securities on Nasdaq. The Company intends to appeal the Nasdaq Hearings Panel determination.
Section 4 – Matters Related to Accountants and Financial Statements
On June 8, 2011, the Company engaged Marcum Bernstein & Pinchuk (“MBP”) as the Company’s new independent accountants. During the two most recent fiscal years and the interim periods preceding the engagement, the Company did not consult with MBP regarding (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and no written report or oral advice was provided to the Company by MBP concluding there was an important factor to be considered by the Company in reaching a decision as to an accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a disagreement, as that term is defined in Item 304(a)(1)(iv) of Regulation S-K or a reportable event, as that term is described in Item 304(a)(1)(v) of Regulation S-K.
SECTION 8 - Other Events
On June 14, 2011, the Company issued a press release announcing the receipt and contents of the Notice, the engagement of MBP and providing an update on related and other matters.
SECTION 9 - Financial Statement and Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.