Printed from http://www.electronista.com

Kodak warns it may be delisted from NYSE, might not recover

updated 09:25 pm EST, Tue January 3, 2012

Latest sign of increasing troubles

Kodak has warned shareholders that it has received a notice from the New York Stock Exchange that its stock may be delisted. The NYSE is said to have sent a letter nothing that Kodak shares have failed to maintain a closing price of at least $1 for 30 consecutive trading days, in violation of listing standards.

Although the NYSE allows for a six-month grace period for the stock to return to compliance, Kodak issued a statement cautioning that there is "no assurance" that it will recover amid ongoing "liquidity challenges."

The disclosure comes just days after SEC filings shed light on troubles within the company's leadership, as three members of the board of directors have resigned within one week.

Efforts to maintain profitability through divestments and intellectual property lawsuits have yet to bear fruit, leaving the company to warn shareholders late last year that it may have to cease operations if a turnaround cannot be achieved. [via Wall Street Journal (sub. required)]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News