Atlantic American Corporation files its delinquent 2025 Form 10-K disclosing material weaknesses and an expected Nasdaq delisting determination.
SEC EDGAR, 2026-10-16: 10-K — "material weakness"
Atlantic American Corporation files its delinquent 2025 Form 10-K disclosing material weaknesses and an expected Nasdaq delisting determination.
Company: Atlantic American Corp (AAME) Filed: 2026-10-16, 10-K Phrase: "material weakness" — "Based on this assessment, management concluded that the Company’s internal control over financial reporting was not effective as of December 31, 2025, because of the material weaknesses described below." What the filing says: The company filed its delinquent 2025 Form 10-K after experiencing delays related to the adoption of long-duration contract accounting standards (LDTI) and the revision of its 2024 financial statements to correct group premium accounting errors. Management identified material weaknesses in internal controls as of December 31, 2025, including deficiencies in group premium receivables and suspense cash application, LDTI implementation, and income tax accounting. Because the company missed its October 12, 2026 Nasdaq extension deadline to file all delinquent reports, it expects to receive a staff delisting determination, which it plans to appeal to a Nasdaq Hearings Panel. Two ways it goes: A. The company successfully appeals the Nasdaq determination and files its remaining delinquent quarterly reports to regain listing compliance. B. The company's appeal is unsuccessful and its common stock is suspended and delisted from Nasdaq. Next date: October 12, 2026 (the passed Nasdaq compliance extension deadline; staff delisting determination expected imminently) Watch: Nasdaq's staff delisting determination and the filing of the company's delinquent Form 10-Qs for the periods ended March 31, 2026, and June 30, 2026.