XPRT US; Terminates Nasdaq Listing (XPRT)

Termination Of Its Nasdaq Listing LECG Corporation XPRT announced that it is terminating its listing on the Nasdaq Global Market as of the close of business on April 21, 2011. The company has previously received notice from Nasdaq that it has failed to maintain a minimum bid price of $1 per share. In light of its current financial condition, the company does not anticipate the minimum bid price for its common stock returning to a level of excess of $1 per share. In addition, in light of its current financial condition and certain publicly-disclosed recent asset sales, the company does not anticipate being able to continue to meet other Nasdaq listing standards in the future. Further, in light of recent resignations, a majority of the members of the Company's board of directors do not qualify as independent. Following the termination of its listing on Nasdaq, the company intends to terminate its public reporting obligations under the Exchange Act as soon as possible.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsDiversified Commercial & Professional ServicesIndustrials
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!