FAB Universal Receives Notice of Intention to Commence Delisting Proceedings From NYSE MKT
PITTSBURGH, PA. May 2, 2014 — FAB Universal (NYSE MKT: #$%$), a worldwide distributor of digital media and entertainment, announced on April 28, 2014 that it had received notice from NYSE MKT LLC that, indicating that the staff of NYSE MKT (the “Staff”) intends to strike the common stock of the Company from listing on the NYSE MKT by filing a delisting application with the U.S. Securities & Exchange Commission (the “SEC”) pursuant to Section 1009(d) of the NYSE MKT’s Company Guide.
The Company has requested an oral hearing before an Exchange Listing Qualifications Panel to appeal the Staff’s determination.
LOL! You're spinning so hard I'm surprised you haven't screwed yourself into the ground by now.
At least we have confirmed you have some affiliation with FAB or one of the companies representing them. They received notice on April 28th and you knew it before it was announced publicly.
"It's going to be 6 more weeks before this opens." was your quote a few days ago.
You obviously are receiving information from somewhere to say this so definitively after FAB received the news and before they made it public today. Whether you are an insider or some insider is illegally feeding you nonpublic information... you had better be careful. Eyes are everywhere. Spare us the drama of I'm an idiot for pointing out the obvious.
=FAB will pay 10K and get a hearing in about 6 weeks.
Thanks for the great example proving my point that these extensions are not done in the spirit of the rules and are just a money-making shakedown for the exchanges.
By the way... I was wrong in that FAB would get the automatic extension. When it didn't happen immediately it became a toss-up, but I still thought it would happen. Looks like the SEC finally got the attention of the NYSE and they aren't rubber-stamping companies violating SEC rules. Democrats are running scared and they might resort to attacking Wall Street before the midterms to show how they support the little guy... snicker. Both parties are in bed with Wall Street to fleece the retail investor. Dems are looking for a little hush money now to back off, but there will still be a show of "concern" before the midterms is my guess.
FAB still allowed to stall and play games to the detriment of shareholders who have their money held hostage. Hope there are criminal charges coming out of this along with the civil ramifications. At least steal the money and be upfront about it so people can move on. Taking people's money hostage is the lowest, most pathetic no-class way to run a business.