Lazare Kaplan International Inc. has received a Deficiency Letter from the New York Stock Exchange (NYSE) Regulation relating to the diamond company's failure to file its quarterly report for the period ended February 28, 2010. Lazare Kaplan, which sells its diamonds and jewelry products through a worldwide distribution network, filed a Notification of Late Filing with the Securities and Exchange Commission pertaining to the Quarterly Report on April 14, 2010.

In this letter, it is explained that the NYSE is authorized to suspend, and unless prompt corrective action is taken, remove Lazare Kaplan’s common stock from the exchange.

On January 25, 2010, Lazare Kaplan was granted an extension until May 31, 2010 to regain compliance with the continued listing standards, following the submission and acceptance of the company's plan of compliance, which advised the NYSE of action it has taken, or will take, to bring the company into compliance with sections of the company guide.