I2 Technologies Inc. said the Nasdaq Stock Market will remove its stock from trading because the company hasn't filed its annual report to the Securities and Exchange Commission.
I2, whose stock hasn't traded since March 27 because of the reporting delay, plans to appeal.
"We're disappointed," said Sanjiv Sidhu, chairman and chief executive.
Mr. Sidhu said the Farmers Branch-based company was working diligently to submit its annual Form 10-K report in June.
I2 is re-auditing its books for 1999, 2000 and 2001. The company also has warned investors not to rely on its results for last year.
The SEC is investigating i2 in an inquiry related to financial reporting allegations brought to the board by two former executives. I2 says it's cooperating fully.
The stock last traded at 79 cents. I2 traded as high as a split-adjusted $111.75 in early 2000.
I2 had planned in January to move its stock to the Nasdaq Small Cap market. The company failed to meet the exchange's shareholder equity requirements because of its depressed stock price.
However, i2 reversed its position because of the exchange's proposal to change listing requirements for the national market.
I2 is a leader in supply-chain management software, which helps businesses manage shifts in demand that affect procurement, manufacturing, delivery and other processes.
Mr. Sidhu said he's preparing for the company's annual customer conference in Las Vegas, which begins Monday.
