The Sarbanes-Oxley Act, passed by the US Federal Government in response to the Enron scandal in 2002 has caused BioProgress to delist from NASDAQ for the second time, adding to the register of European firms fleeing the US market.

Cambridge-based specialty pharma and healthcare company, BioProgress has announced its intention to delist from the NASDAQ stock market on June 18, as a result of the limited benefits of trading on the American market becoming outweighed by the cost of adhering to the stringent laws instituted because of large scale corporate accounting scandals.

[1] BusinessWeekly.co.uk: Another EoE firm abandons ‘burdensome’ NASDAQ