NYSE Eliminates Press Release Requirement and Revises Notification Standards for Listed Companies

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Effective May 7, 2009, companies listed on the New York Stock Exchange (“NYSE”) are no longer required to file a separate press release to comply with Section 202.05 of the NYSE’s Listed Company Manual, which requires that NYSE-listed companies immediately release any news or information that might reasonably be expected to materially affect the market for its securities. Previously, Section 202.06 of the Listed Company Manual required listed companies to comply with this immediate release policy by issuing a press release.

Please see full update for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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