Published:
March 10, 2009 10:55 am EDT
Magna Entertainment Corp. has announced that it has received notification from the NASDAQ stock market that its securities will be delisted
from the market due to, among other things, its recent Chapter 11 filing.
Magna Entertainment Corp.'s release indicates that it does not intend to appeal the NASDAQ delisting decision. Accordingly, trading of MEC's Class 'A' Subordinate Voting Stock will be suspended at the opening of business on March 16, 2009.
The Toronto Stock Exchange recently announced that MEC stocks would be delisted from its exchange effective April 1, 2009.
(With files from MEC)
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