toggle

AAPL Stock: 114.64 ( -3.8 )

Printed from http://www.macnn.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 MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

HP 14-x030nr 14-inch Chromebook

If you're like us, chances are you've come to realize that you need the ability to access the Internet on the go. Also, you've prob ...

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

toggle

Most Commented