3-4-2012
According to an SEC filing made by Emmis, the company has received "a written notification from The Nasdaq Stock Market stating that because the company had not regained compliance with the $1.00 minimum bid price requirement for continued listing, the company?s class A common stock would be subject to delisting unless the company requests a hearing before a NASDAQ panel on or before March 6th. Emmis has requested a hearing where it will present a plan to regain compliance.
Emmis says this determination does not directly affect the listing of the Company?s 6.25% Series A Cumulative Convertible Preferred Stock (the ?Preferred Stock?), which will continue to trade on The Nasdaq Global Select Market under the symbol ?EMMSP?. However, because the continued listing of the Preferred Stock on The Nasdaq Global Select Market is dependent upon the continued listing of the Class A Common Stock on The Nasdaq Global Select Market, the Company believes the Preferred Stock will likely be delisted from The Nasdaq Global Select Market if the Class A Common Stock is delisted.
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