Friedman, Billings, Ramsey Group Receives Listing Standards Notice from the NYSE
November 07 2008 - 4:30PM
PR Newswire (US)
ARLINGTON, Va., Nov. 7 /PRNewswire-FirstCall/ -- Friedman,
Billings, Ramsey Group, Inc. (FBR Group) (NYSE:FBR) today announced
that on November 4, 2008, it was notified by the New York Stock
Exchange (NYSE) that it was not in compliance with an NYSE
continued listing standard in that the average price of its stock
had fallen below $1.00 per share for a consecutive 30 trading-day
period. FBR Group intends to cure the deficiency and is exploring
alternatives for curing the deficiency and restoring compliance
with this continued listing standard. Under NYSE rules, FBR Group
has six months from the date of the NYSE notice to do so. FBR
Group's common stock remains listed on the NYSE under the symbol
FBR, but will be assigned a ".BC" indicator by the NYSE until
compliance has been restored. FBR Group's business operations,
Securities and Exchange Commission reporting requirements, credit
agreements, other debt obligations and its subsidiaries, including
FBR Capital Markets Corporation (FBR Capital Markets)
(NASDAQ:FBCM), are unaffected by this notification. FBR Capital
Markets is a separately traded and managed public company.
Friedman, Billings, Ramsey Group, Inc. (NYSE:FBR) invests in
mortgage-related assets and merchant banking opportunities. FBR is
headquartered in the Washington, D.C. metropolitan area. For more
information, please visit http://www.fbr.com/. Statements
concerning future performance, developments, events, market
forecasts, revenues, expenses, earnings, run rates and any other
guidance on present or future periods, constitute forward-looking
statements that are subject to a number of factors, risks and
uncertainties that might cause actual results to differ materially
from stated expectations or current circumstances. These factors
include, but are not limited to, changes in interest rates,
increased costs of borrowing, decreased interest spreads, changes
in mortgage pre-payment speeds, risks associated with merchant
banking investments, the realization of gains and losses on
principal investments, available technologies, competition for
business and personnel, and general economic, political and market
conditions. These and other risks are described in the Company's
Annual Report and Form 10-K and quarterly reports on Form 10- Q
that are available from the Company and from the SEC. DATASOURCE:
Friedman, Billings, Ramsey Group, Inc. CONTACT: Media,
+1-703-469-1004, , or Investors, Kurt Harrington, +1-703-469-1080,
, both of Friedman, Billings, Ramsey Group, Inc. Web site:
http://www.fbr.com/
Copyright
Fbr Capital Markets Corp. (MM) (NASDAQ:FBCM)
Historical Stock Chart
From Sep 2024 to Oct 2024
Fbr Capital Markets Corp. (MM) (NASDAQ:FBCM)
Historical Stock Chart
From Oct 2023 to Oct 2024