Trump Entertainment notified of NASDAQ delisting
Trump Entertainment Resorts, Inc. (Nasdaq:TRMP) received notification from the NASDAQ Stock Market indicating that the staff of the NASDAQ Stock Market had determined, in accordance with NASDAQ Marketplace Rules 4300, 4450(f) and IM-4300, that the company's common stock will be delisted from the NASDAQ Stock Market in light of, among other things, the company's announcement that it filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code.
NASDAQ trading in the company's common stock will be suspended at the opening of business on February 26, 2009 unless the company requests an appeal of NASDAQ's delisting decision.
In a press statement, the company said it does not intend to appeal NASDAQ's delisting decision.
The company said it expects that following delisting, its common stock will not be immediately eligible to trade over the OTC Bulletin Board or in the "Pink Sheets," however, the common stock may become eligible for such trading if a market maker makes application to quote the common stock in accordance with Securities and Exchange Commission Rule 15c2-11, and such application is cleared.