Thornburg Mortgage Suspended From NYSE

Posted by Orb Staff on December 04, 2008 No Comments
Categories : Residential Mortgage

Thornburg Mortgage Inc. says that on Dec. 1, the company was notified by the New York Stock Exchange Regulation Inc. (NYSER) that the company's common stock should be suspended from trading prior to market opening on Dec. 5.

The company's common stock price had fallen below the New York Stock Exchange's (NYSE) continued listing standard by having an average closing price of less than $1.00 over a consecutive 30-day trading period in May 2008, and the company failed to cure this noncompliance within the required six-month period. In addition, the company's common stock price was under $1.00 at the end of the six-month period.

The NYSE will initiate the process of delisting the company's common stock, subject to the completion of applicable procedures, including the company's right to request a review by a committee of the Board of Directors of the NYSER.

Source: Thornburg Mortgage Inc.

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