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ACFC > SEC Filings for ACFC > Form 8-K on 8-Aug-2013All Recent SEC Filings

Show all filings for ATLANTIC COAST FINANCIAL CORP | Request a Trial to NEW EDGAR Online Pro



Notice of Delisting or Failure to Satisfy a Continued Listing Rule

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On August 7, 2013, Atlantic Coast Financial Corporation (the "Company") informed the Nasdaq Stock Market ("Nasdaq") that Director John Linfante, its Audit Committee Financial Expert, had resigned. As a result, the Company will not be in compliance with Nasdaq Rule 5605(c)(2)(A) regarding the composition of the Audit Committee, subject to Nasdaq's allowed cure period. The Company believes that Director Nominee Kevin G. Champagne, if elected at the Company's annual meeting on August 16, 2013 and subject to the receipt of non-objection by the Federal Reserve Bank of Atlanta to his service on the Board, will qualify as an Audit Committee Financial Expert and will serve on the Audit Committee of the Company.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 5, 2013, John Linfante resigned his position as Chairman and Director of the Company and Director of Atlantic Coast Bank effective August 14, 2013.

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