NYSE Regulation, Inc. announced that it determined that the growth shares (i.e. common stock) of Municipal Mortgage & Equity LLC – ticker symbol MMA – should be suspended prior to the opening on Wednesday, February 6, 2008 or such earlier date as the Company commences trading in another securities marketplace or if there is a material adverse development.
The decision was reached in view of the fact that the Company is a late filer and was under review by NYSE Regulation in light of the delay in filing with the Securities and Exchange Commission its December 31, 2006 Form 10-K and certain of its 2006 and 2007 Form 10-Q filings.
On January 28, 2008, the Company announced that it does not expect to meet the previously announced March 3, 2008 New York Stock Exchange (NYSE) deadline for filing its 2006 Form 10-K. This date is the maximum 12-month period otherwise available to complete the filing as permitted under the NYSE’s rules.
The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable. -- www.nyse.com
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