Worst DIY Installs Ever Part 7
10 Must-Have Products for Your Next Install
6 Amazing High-End Home Theaters
8 Awesome Turntables for Spinning Vinyl
Print
Email
Comments (0)
Share
Circuit City Reports Non-Compliance With NYSE
NYSE to assign ".BC" indicator to Circuit City's symbol to indicate it's below continued listing standards.
Circuit City has been notified by the New York Stock Exchange (NYSE) that it didn't satisfy one of the standards for continued listing of the company's common stock.
The NYSE told Circuit City it was "below criteria" because the average closing price of the company's common stock was less than $1 per share for 30 straight trading days as of October 22.
In order to cure the deficiency for the continued listing standard, both Circuit City's common stock share price and the average share price must exceed $1 over a 30-day trading period by six months after the non-compliance notice.
Circuit City's common stock remains listed on the NYSE under the symbol "CC." The NYSE will, however, assign a ".BC" indicator to the symbol to show the company is below the continued listing standards.
The big-box retailer also recently reported that its director, Barbara Feigin, resigned after a 14-year tenure on the board.
In a filing with the Securities and Exchange Commission (SEC), Circuit City said Feigin's resignation was not related to any disagreement over the company's operations.
The NYSE told Circuit City it was "below criteria" because the average closing price of the company's common stock was less than $1 per share for 30 straight trading days as of October 22.
In order to cure the deficiency for the continued listing standard, both Circuit City's common stock share price and the average share price must exceed $1 over a 30-day trading period by six months after the non-compliance notice.
Circuit City's common stock remains listed on the NYSE under the symbol "CC." The NYSE will, however, assign a ".BC" indicator to the symbol to show the company is below the continued listing standards.
The big-box retailer also recently reported that its director, Barbara Feigin, resigned after a 14-year tenure on the board.
In a filing with the Securities and Exchange Commission (SEC), Circuit City said Feigin's resignation was not related to any disagreement over the company's operations.
Circuit City's Difficult 2008
 | Circuit City to Liquidate Remaining U.S. Stores Four liquidators to sell merchandise in remaining 567 U.S. stores. More than 35,000 jobs will reportedly be lost. Circuit City Receives Approval from Bankruptcy Court Circuit City has received approval for its $1.1 billion debtor-in-possession (DIP) revolving credit facility a day after voluntarily filing for Chapter 11 bankruptcy. Circuit City Files for Chapter 11 Bankruptcy Company says filing will allow it to continue business as usual, paying salaries and benefits and honoring returns and gift cards. Report: Circuit City to Close 155 Stores Big-box retailer is exiting several markets and has hired a team of liquidators to clear out the affected stores Circuit City Reports Non-Compliance With NYSE NYSE to assign ".BC" indicator to Circuit City's symbol to indicate it's below continued listing standards. Is this Finally It For Circuit City? How you can take advantage of the possible failure of the big-box retailer. Circuit City CEO Philip Schoonover Resigns The embattled CE retailer says Schoonover's resignation is effective immediately. He will be replaced by James Marcum. Circuit City Appoints 'Turnaround Executive,' Hints at Sale Company says new vice chairman James A. Marcum is highly experienced at turning retailers around. |
|
Subscribe to the CE Pro Newsletter
About the Author
Steve Crowe, Web Editor
Steve is an editor for cepro.com. He graduated from Emerson College with a B.A. in Journalism. He joined the CE Pro staff in 2008. Steve is also a freelance sports writer for The Boston Globe and other various publications.
Post a comment