NYSE to Suspend Trading in J. C. Penney Company (JCP)
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The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced that the staff of NYSE Regulation has now determined to immediately suspend trading in the common stock (“Common Stock”) of J. C. Penney Company, Inc. (NYSE: JCP) — ticker symbol JCP — from the NYSE.
In addition, NYSE Regulation has also determined to immediately suspend trading in J.C. Penney Corporation, Inc.’s 5.65% Senior Notes due June 1, 2020 (“Senior Note”) — ticker symbol JCP /20 — from the NYSE.
On May 18, 2020, the NYSE announced that it was commencing proceedings to delist the Company. The Company had the right to request a review of this determination by a Committee of the Board of Directors of the Exchange until June 2, 2020. On May 18, 2020, the Company confirmed that it will not exercise that right. Accordingly, the NYSE will now suspend trading in the Common Stock and Senior Note and will file a delisting application with the Securities and Exchange Commission.
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