Madison-based Anchor BanCorp Wisconsin Inc. announced it received a letter on Dec. 4 from the NASDAQ Stock Market, stating that the company was not in compliance with NASDAQ standards because the bid price of its common stock closed below the required minimum $1 per share for the previous 30 consecutive business days.
Anchor BanCorp's stock is traded on the NASDAQ exchange under the symbol ABCW. AnchorBank fsb, the wholly owned subsidiary of the company, has more than 70 offices, all of which are located in Wisconsin.
In accordance with NASDAQ rules, the company has 180 calendar days, until June 2, 2010, to regain compliance with the minimum bid price rule. If the bid price of the company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will notify the company that it has regained compliance with the minimum bid price rule.
If the company does not regain compliance with the rule prior to the expiration of the 180-day period, NASDAQ will notify the company that its securities are subject to delisting.
The company said it is evaluating its alternatives to resolve the listing deficiency.
Anchor BanCorp receives stock warning from NASDAQ
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