US: Joe's Jeans regains Nasdaq compliance listing
US denim brand Joe's Jeans has regained its listing on the Nasdaq stock exchange after being warned last month that it was not complying with its rules.
In December the jeans label received a letter giving it 180 calendar days, or until 5 June, to regain compliance with the Bid Price Rule. This required the company's common stock to remain at US$1.00 per share or more for a minimum of 10 consecutive trading days.
Joe's Jeans says it has achieved this and the matter is now closed.
Joe’s Jeans In Compliance with Nasdaq Listing Requirements
LOS ANGELES--(BUSINESS WIRE)--Joe’s Jeans Inc. (Nasdaq: JOEZ) announced today that the Company received notification from The Nasdaq Stock Market indicating that the Company has regained compliance with Nasdaq’s $1.00 minimum bid price requirement by maintaining a closing bid price of $1.00 or more for at least ten consecutive trading days and the matter is now closed.
“We are pleased that we are now in compliance with Nasdaq requirements.”
Marc Crossman, President and CEO, stated, “We are pleased that we are now in compliance with Nasdaq requirements.” Crossman continued, “As we stated previously, we are committed to maintaining our Nasdaq listing and building long-term value for our shareholders.”
About Joe’s Jeans Inc.
Joe’s Jeans Inc. designs, produces and sells apparel and apparel-related products to the retail and premium markets under the Joe's® brand and related trademarks. More information is available at the company website at www.joesjeans.com.
Original source: http://www.businesswire.com/news/topix/20130122005143/en
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