Monaco Threatened With NYSE Delisting

Monaco Threatened With NYSE Delisting


Already suffering economically and having just consulted industry experts on how to turn its business around, now Monaco has received notice from the New York Stock Exchange that they will be delisted if things don't improve.

The same thing happened to Fleetwood recently and they still haven't gotten back on the NYSE listings.

Monaco was given notice on January 6, 2009 that it failed to comply with NYSE standards that required their common stock maintain an average closing stock price of over $1 per share for 30 consecutive trading days. As this is being typed, it's down to 63 cents from the day's start at only 81 cents.

Monaco has ten days to notify NYSE that it intends to get its value back up.

Perhaps more ominous was the NYSE note in the letter that Monaco's average market capitalization over a recent 30 trading day period was less than the minimum $25 million allowed by NYSE and for that reason alone NYSE could have immediately suspended trading and delisted Monaco stock.

Preceding the notice have been a flurry of changes of significant shares ownership notices filed by Monaco, at least 9 different SEC filings.
So what's it all mean? Nothing good, we suspect.

If you've got a Monaco needing warranty repairs, you better get it in the shop soon. There may come a point where dealer's won't do the work without you paying, if the factory stops paying for it.

Meanwhile, if you've got a lemon Monaco coach, now is the time to do something about it. Email or call us toll free right now at 1.888.331.6422.

Because life is too short to put up with a bad Rv.

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ABOUT THE AUTHOR

Known nationwide as a leading Lemon Law attorney, Ronald L. Burdge has represented literally thousands of consumers in "lemon" lawsuits and actively co-counsels and coaches other Consumer Law attorneys. From 2005 through 2018, attorney Ronald L. Burdge has been named as the only Lemon Law Ohio Super Lawyer by Law and Politics magazine and Thomson Reuters Corp., Professional Division. Burdge restricts his practice to Lemon Law and Consumer Law cases. The Ohio Super Lawyer results are published annually in the January issue of Cincinnati Magazine. Ronald L. Burdge was named Consumer Law Trial Lawyer of the Year 2004 by the National Association of Consumer Advocates, the nation's largest organization of consumer law private and government attorneys. "Your impact on the auto industry has been magnified many times over because of the trail you blazed for others," stated NACA's Executive Director, Will Ogburn. Burdge has represented thousands of consumers in Ohio, Kentucky and elsewhere since 1978 and is a frequent lecturer to national, state and local Bar Associations and Judicial organizations. Burdge is admitted to Ohio's state and federal courts, Kentucky's state courts, and Indiana's federal courts. Other court admissions are on a "pro hac" temporary, case by cases basis.