Nasdaq Confirms Expiration of COVID-19 Relief

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As we previously blogged, on April 16, 2020, The Nasdaq Stock Market (“Nasdaq”) announced temporary relief from the bid price and market value of publicly-held shares listing requirements in response to the COVID-19 pandemic. In addition, on May 1, 2020, Nasdaq adopted Nasdaq Rule 5636T, which provided an exception from certain shareholder approval rules for companies impacted by the COVID-19 pandemic. Nasdaq recently confirmed that the temporary relief and the exceptions provided by Rule 5636T expired on June 30, 2020.

Here is a link to Nasdaq’s confirmation.

[View source.]

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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