MM&E Exits Exchange
Municipal Mortgage & Equity, a multifamily lender and investment manager, said that it will not be traded on the New York Stock Exchange after Feb. 6.
After that date the stock will be traded on the over-the-counter market.
The NYSE is suspending trading in MuniMae shares, according to MuniMae, since the company will not be meeting a March 3 deadline to file its audited financial statements for the 2006 fiscal year.
The company is eligible to apply to be relisted on the NYSE after it meets the exchange's requirements.
MuniMae stock closed at $7.13 on the NYSE on Jan. 30, a steep decline of over 50% compared to its Jan. 2 opening of $15. (c) 2008 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com/ http://www.sourcemedia.com/