Emmis Remains Traded On NASDAQ ... For Now
April 30, 2012 at 5:55 AM (PT)
NASDAQ gave EMMIS COMMUNICATIONS some good news, with word that EMMIS shares will remain listed on the NASDAQ exchange. THE INDIANAPOLIS BUSINESS JOURNAL reports, "EMMIS must still meet NASDAQ's listing requirement by having its stock close above the bid price of $1 per share for 10 consecutive trading days."
"We appreciate NASDAQ's ruling and the extension to gain compliance," EMMIS said in a statement. "Based on recent corporate actions, we are confident we will meet all listing requirements before the new deadline."
Last month (NET NEWS 3/5), EMMIS appealed the possible delisting on NASDAQ.