Client Alert
SEC Approves Additional NYSE Measures to Ease Continued Listing Standards
March 9, 2009
Last week, the SEC approved two rule changes proposed by the New York Stock Exchange that are intended to temporarily ease the continued listing requirements for listed companies.
First, the SEC approved the NYSE's temporary suspension of its stock price standard, which applies to stocks whose average closing price falls below $1.00 over a consecutive 30-day trading period.
Second, the SEC extended the NYSE's previous reduction, from $25 million to $15 million, of the minimum global market capitalization required of listed companies, which was set to expire April 22, 2009. Both of these temporary suspensions are in effect until June 30, 2009.
Click here to read our client alert about these recent NYSE developments.
Contact Information
If you have any questions regarding the recent NYSE actions, please contact the Womble Carlyle attorney with whom you usually work or one of our Corporate and Securities attorneys.
Womble Carlyle client alerts are intended to provide general information about significant legal developments and should not be construed as legal advice on any specific facts and circumstances, nor should they be construed as advertisements for legal services.
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