Advanta Corp. (ADVNB, ADVNA) said it received letter from NASDAQ Stock Market, LLC, indicating that the company is no longer in compliance with the continued listing requirements for The NASDAQ Global Select Market.
The company noted that its Class A and Class B common stock are separately deficient as a result of each having closing bid prices below the $1.00 minimum requirement for 30 consecutive business days.
Advanta stated that it could regain compliance related to this requirement on either or both stock classes before March 15, 2010. During the period, both classes of stock will continue to be listed and traded on the Global Select Market of NASDAQ.
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