The tax preparation company has 10 business days to inform the NYSE of its intention. It had already received a notice on June 21 that it was also subject to possible delisting because Jackson Hewitt's average global market capitalization had fallen below $50 million or its total shareholder equity had dropped below the same mark. Jackson Hewitt has submitted a plan for regaining compliance with that standard over the next 18 months.
Jackson Hewitt Faces Possible Delisting
Jackson Hewitt Tax Service has been notified by the New York Stock Exchange that the company's common shares have fallen below the exchange's requirement that listed stocks have a minimum average share price of $1 per during a consecutive 30-day trading period. The company has until six months from receipt of the notice to meet the requirement or face possible delisting of its stock. It was the second such notice this year.
