SBS Faces NASDAQ Delisting
December 14, 2009 at 5:09 AM (PT)
SPANISH BROADCASTING SYSTEM, INC. has received notification from NASDAQ that it is out of compliance with its listing rules and has requested a hearing that stays delisting from the WEDNESDAY (12/16) deadline.
SBS previously got an extension to DECEMBER 4th to regain compliance with NASDAQ's minimum stock price rules (it was initially notified on AUGUST 25, 2008 with a FEBRUARY 17, 2009 deadline for compliance). The company's stock did not rise to or above $1 per share before the DECEMBER 4th deadline.