Summary by Futu AI
Minim Inc. has been actively engaged in legal proceedings to prevent the delisting of its common stock from the Nasdaq Stock Market. The company was granted a temporary restraining order (TRO) by the Supreme Court of the State of New York, Kings County, on August 20, 2024, which was initially effective until September 5, 2024. The case was moved to federal court by Nasdaq but was subsequently remanded back to the State Court. A stipulation extended the TRO until September 30, 2024, when oral arguments were heard. The State Court has yet to rule on Minim's motion for a preliminary injunction against Nasdaq, and no date for this ruling has been set. Minim believes Nasdaq missed the October 2, 2024, deadline to respond to the complaint, leading Minim to file a motion for a default judgment on October 7, 2024. This motion is scheduled to be heard on December 19, 2024. The company's ongoing legal efforts are detailed in their Current Report on Form 8-K filed with the SEC.