HeartWare International Inc. was forced to temporarily suspend trading of its stock on the Australian Securities Exchange and NASDAQ after discovering a minor oversight in its second-quarter sales and earnings report.
The Framingham, Mass., and Sydney, Australia-based cardiac assist device maker said discussions with the two exchanges lead it to expect a resumption of trading Sept. 2.
The suspension comes down to ASX rules requiring its accounting firm, Grant Thornton, to submit a brief summary of the second-quarter filing. Because that wasn’t done, ASX rules mandate a suspension until the review is filed, which should happen later today. The NASDAQ suspension was an automatic consequence of the ASX action.
Other than the temporary trading halts, there are no other consequences to the filing omission, the company said.