Lazare Kaplan announced it could not file its financial report on time, which could lead to its delisting from the New York Stock Exchange’s Amex.

The company said it couldn’t file the report "due to [its] inability, at this time, to resolve a material uncertainty concerning the collectability and recovery of certain assets."

The Securities and Exchange Commission responded by threatening LKI with delisting, although at press time LKI said it had submitted a compliance plan to the NYSE. The company intends to take steps to trade on the over-the-counter market if the exchange doesn’t approve the plan.