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Stanley Faces De-Listing by NASDAQ Stock Market

Stanley Furniture (NASDAQ: STLY) said it has been notified by the NASDAQ Stock Market that is shares could be de-listed because the price has been below $1 per share for more than 30 consecutive business days.

In a filing with the Securities and Exchange Commission, the company said it has a 180-day grace period ending Aug. 9 to regain compliance with NASDAQ rules, which require the share price to be at least $1 per share for 10 consecutive business days.

If it isn’t in compliance by Aug. 9, the company said it may be eligible for a second 180-day grace period.

“The company intends to monitor the bid price for its common stock between now and August 9, 2017, and will consider available options to resolve the deficiency and regain compliance with the NASDAQ minimum bid price requirement,” the filing said.

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