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First Marblehead (FMD) Receives Listing Notification from NYSE

November 9, 2012 4:10 PM EST Send to a Friend
First Marblehead Corp. (NYSE: FMD) was notified by the New York Stock Exchange (NYSE) that the average closing price of the Company's common stock over a consecutive 30-trading-day period had fallen below the NYSE's continued listing standard of $1.00 per share. As of November 6, 2012, the average closing price of the Company's common stock over a consecutive 30-trading-day period was $0.99 per share.

The Company generally has a period of six months from the date of notice to satisfy the average share price requirement, and expects the deficiency to be cured within the prescribed timeframe. Until then, the Company's common stock will continue to be listed and traded on the NYSE, subject to the Company's compliance with other NYSE continued listing requirements.




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