NASDAQ Suspends Minimum Bid and Minimum Value of Public Float Rules


Effective October 16, 2008, NASDAQ announced that it has suspended through January 16, 2009, the application of its continuing requirements for listing on the NASDAQ Stock Market related to the bid price and market value of publicly held shares of NASDAQ-listed companies. Under the minimum-bid price rules, NASDAQ-listed companies are subject to delisting for failing to maintain at least a $1 closing bid price for 30 consecutive business days, and under the minimum value of public float rules, NASDAQ-listed companies are subject to delisting for failing to meet requirements for the minimum market value of publicly held shares for 30 consecutive business days.

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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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