Finlay Enterprises (FNLY) Receives Delisting Notification From NASDAQ
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Finlay Enterprises, Inc. (Nasdaq: FNLY) received notification from The Nasdaq Stock Market that the Company is not in compliance with the continued listing requirement of Nasdaq Marketplace Rule 4450(a)(2) because, for the last 30 consecutive trading days, the Company's common stock has not maintained a minimum market value of publicly held shares of $5,000,000.
In accordance with Nasdaq Marketplace Rule 4450(e)(1), the Company was provided 90 calendar days, until July 1, 2008, to regain compliance with this minimum requirement. To meet this minimum requirement, the market value of the Company's publicly held shares must maintain a market value of publicly held shares of $5,000,000 or greater for a minimum of ten consecutive trading days.
Finlay Enterprises, Inc. (Finlay) is a retailer of fine jewelry products in the United States through its wholly owned subsidiary, Finlay Fine Jewelry Corporation. [SM]
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