Stock Exchange Delists Friedman’s

The New York Stock Exchange has delisted Friedman's Inc.'s class A common stock. The Savannah-based specialty retailer, which is under federal investigation for alleged fraud, said it is evaluating an appeal of the decision. The company said that while it is disappointed with the NYSE's decision, the delisting from the NYSE does not affect Friedman's day-to-day business operations. The company noted that although its common stock is not eligible for trading on the NASD over-the-counter bulletin board (OTC), it understands that market makers have independently begun to make a market in the company's common stock on the Pink Sheets under the symbol "FRDM." In November 2003, Friedman's disclosed that the U.S. Securities and Exchange Commission and the U.S. Justice Department had expanded a fraud investigation to include a review of the doubtful-accounts allowance. The investigations see
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out