Nasdaq Gives Covansys Delisting ReprieveNasdaq Gives Covansys Delisting Reprieve

Covansys Corp. late Tuesday said its stock will not be delisted from the Nasdaq securities exchange as had been scheduled, pending the outcome of an appeal to Nasdaq officials.

Last month, Nasdaq staff informed Covansys, an offshore software developer, that the company's shares would be delisted after the company failed to meet a deadline for a regulatory filing. Covansys failed to file its first-quarter earnings report on time, blaming confusion over how to classify certain noncash earnings. No date has been set for the appeal.

Covansys is based in Farmington Hills, Mich., but performs the bulk of its work in India. Its customers include Lands' End Inc. and the state of Indiana.