Furniture Brands International (NYSE: FBN) has regained compliance with the New York Stock Exchange's continued listing requirements.
For continued listing on the board, NYSE requires a minimum average closing price of $1 per share over a consecutive 30-trading-day period.
On December 21, 2012, Furniture Brands was notified by the NYSE that the average price of FBN common stock had traded below a consecutive 30-trading-day average of $1 per share. As a result, under the NYSE rules, Furniture Brands was required to bring its average closing price above $1 within the longer of six months from receipt of the NYSE's notification, or its next annual meeting of shareholders if a shareholders' action was proposed.
At the close of trading on Feb. 4, Furniture Brands closing share price was $1.40. The company will continue to monitor its ongoing compliance with the NYSE’s continued listing standards.
