The tax preparation company was given the notice because its common stock did not have a market value of at least $50 million for 30-consecutive trading days. It also fell below requirements when its stock dropped below $1 per share for a similar period. The company said it has plans for curing both deficiencies. It has 18 months to meet the market capitalization requirements.
Jackson Hewitt Shares Stay on NYSE
PARSIPPANY, N.J. - Jackson Hewitt Tax Service has received approval from the New York Stock Exchange for a plan that would enable it to continue to be listed on the NYSE. The company had been notified about possible delisting after it failed to meet two separate exchange requirements. Jackson Hewitt is subject to quarterly reviews by the NYSE while it works through its plan.
