Bankrupt Tweeter Delisted by NASDAQ
Tweeter Home Entertainment Group said it was notified by NASDAQ that its securities will be delisted from the NASDAQ Stock Market and that trading in its common stock will be suspended.
NASDAQ based its decision on Tweeter’s Chapter 11 bankruptcy filing earlier this week.
Tweeter has the right to file an appeal, but said it does not intend to do so.
Trading of Tweeter’s common stock will be suspended at the opening of business on June 21. A Form 25-NSE now will be filed with the Securities and Exchange Commission, which will remove Tweeter’s securities from listing and registration on NASDAQ.
We’ll take a closer look at Tweeter’s bankruptcy filing on Monday.