First Marblehead Regains Compliance With NYSE Listing Requirements
The First Marblehead Corporation (NYSE: FMD) today confirmed that it has regained compliance with the New York Stock Exchange, Inc.'s ("NYSE") continued listing standards.
On November 2, 2011, the Company received notification from NYSE Regulation, Inc. that it was not in compliance with Section 802.01C of the NYSE Listed Company Manual, which requires an average closing price of not less than $1.00 per share over a consecutive 30 trading-day period.
The Company received confirmation on January 3, 2012 that it had demonstrated an accelerated cure by having a closing price greater than $1.00 per share on the last trading day of December 2011 while maintaining an average share price greater than $1.00 over the 30 trading days preceding the end of that month.
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