Diamonds: Lazare Kaplan Removed From Nasdaq, Indians Elected to Top Spots in Industry Groups

Stock in ReverseLazare Kaplan International, the only publicly traded U.S. diamond wholesaler, was removed from the Nasdaq exchange June 25. The company’s stock is now quoted on the Pink Sheets Marketplace. NYSE Amex sent the New York City manufacturer a letter June 18 stating the exchange’s intent to delist its stock, following LKI’s failure to file complete financial reports for more than a year due to “material uncertainty.” In an SEC filing, LKI said it “intends to continue to work as expeditiously as possible to resolve the Material Uncertainties so that the Company can file all of its delinquent SEC reports. Upon filing all such reports, the Company presently expects to reapply to the Exchange for its common stock to again be listed…” LKI’s material uncertainties seem related to its insurance woes. On May 17, the DTC sightholder sued various European insurers for

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