CPS Receives Deficiency Notice From NASDAQ
August 30 2010 - 4:30PM
Consumer Portfolio Services, Inc. (Nasdaq:CPSS) ("CPS" or the
"Company") today announced that it received a NASDAQ staff
deficiency letter on August 24, 2010 indicating that the Company
has failed to comply with the minimum bid price of $1.00 as
required by Rule 5450(a)(1).
CPS has until February 22, 2011 to regain compliance; otherwise
its common stock would be subject to delisting. The Company is
considering several alternatives that could be taken to maintain a
listing of its common stock.
About Consumer Portfolio Services, Inc.
Consumer Portfolio Services, Inc. is an independent specialty
finance company that provides indirect automobile financing to
individuals with past credit problems, low incomes or limited
credit histories. We purchase retail installment sales contracts
primarily from franchised automobile dealerships secured by late
model used vehicles and, to a lesser extent, new vehicles. We fund
these contract purchases on a long-term basis primarily through the
securitization markets and service the contracts over their
lives.
CONTACT: Consumer Portfolio Services, Inc.
Investor Relations Contact
Robert E. Riedl, Chief Investment Officer
949 753-6800
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