Pretty regulation stuff, but Virgin Mobile USA (NYSE: VM), which just announced job cuts, is in danger of being de-listed from NYSE, after receiving a notice that it is not in compliance with certain listing criteria. It is below the applicable standards because the average market cap of its Class A common stock, which over a period of 30 trading days is less than $100 million. As of November 11, 2008, the company’s 30 trading-day average market capitalization was approximately $89.8 million. VMUSA has 45 days from receipt of the notice to submit a business plan that demonstrates the company’s ability to restore compliance with the continued listing criteria within 18 months, and it plans to do so soon.
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