The Securities and Exchange Commission (Commission) has set aside a decision by The NASDAQ Stock Market, LLC delisting the common stock of CleanTech Innovations, Inc. from the NASDAQ Capital Market. NASDAQ based its delisting decision on its finding that CleanTech intentionally withheld documents requested by NASDAQ staff while the staff was considering CleanTech’s application to list its shares. The Commission recognized that NASDAQ has broad discretion in determining whether to permit a security’s initial or continued listing, but it found that the record does not show that the grounds on which NASDAQ relied in delisting CleanTech exist in fact. The Commission therefore set aside the delisting decision. (Rel. 34-69968; File No. 3-14640)
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