BOSTON (Thomson Financial) - Medifast Inc. Wednesday said it has been
notified by the New York Stock Exchange (NYSE) that it is not in compliance with
continued listing standards.
The company said it is considered "below criteria" by the NYSE because over
a 30-consecutive-day trading period its total market capitalization was less
than $75 million, and its most recently reported shareholders' equity was below
$75 million.
Medifast said it plans to submit a plan to the NYSE that will demonstrate
compliance with the listing standards within the required time frame of 45 days.
Shares of the Owings Mills, Md.-based provider of weight management and
disease management products rose 3.2% to $4.24 on volume of 117,300. The issue's
30-day average volume is 111,474 shares.
Casey Logan
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