Delistings

[pdisme]

Just curious what happens to shares or your investment when a company gets delisted? Obviously the stock is typically worth very little before this were to occur so you've probably already lost most of what you put in, but you've still got something left. If they later show up on the over the counter exchange do you now have those shares?

[Lasombra52]

That's a damn good question. You looking to get into the stock exchange I take it?

[pdisme]

No, was reading an article on a company that got delisted.

[gday]

Just curious what happens to shares or your investment when a company gets delisted?Nothing directly happens to the shares nor the ownership of the shares. Remember its the company that chooses where to list itself ie where it wants to have its shares traded. If it can't meet the requirements of one service, it has other options - like over the counter or PK. Its just up to the company.

-mick

[Tofu]

No, was reading an article on a company that got delisted.

SCO???

[gday]

SCO???If thats so, then the question is far more complex ie "What happens to my shares of a company currently under Chapter 11 protection". Delisting is not the problem.

-mick

[Tofu]

If thats so, then the question is far more complex ie "What happens to my shares of a company currently under Chapter 11 protection". Delisting is not the problem.

-mick

I believe it was delisted first then they filed for chapter 11. no?

I guess in the end it's still a chapter 11 issue

[gday]

I believe it was delisted first then they filed for chapter 11. no?No. They filed for protection September 14 2007. They were threatened with delisting September 18, 2007 as a direct result of the Chapter 11 filing, lost a delisting appeal December 21, 2007 and were delisted December 27, 2007.

They were threatened multiple times with delisting in the past due to 10k filling problems but it never occurred afaik.

-mick

[Tofu]

Ahh, thanks for the clarification.

I guess all the rumors of delisting and the threats I just assumed it had happened previously.

[j0nnywalker]

theres alot of scenarios, but typically when a company gets de listed off an exchange, it can be either the company didnt meet listing requirements and remove by the exchange, OR the company delisted themselves which is unlikely.
They're usually relisted back on to a smaller exchange , bulletin boards, pink sheets, etc.

hope this helps

[artherd]

you can always trade on my exchange Dave!

[gday]

I guess all the rumors of delisting and the threats I just assumed it had happened previously.SCO is back....

http://www.internetnews.com/bus-news/article.php/3728201/SCO+Plans+Rebound+Thanks+to+100M+Lifeline.htm

-mick

[pdisme]

Great, give them $100 mil to pass on to attorneys who will take both sides' money while not accomplishing anything since they'll be bankrupt again before any useful decisions.