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Jackson Hewitt Faces Possible Delisting

Wednesday, Sep 08 2010
Tax
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Jackson Hewitt logoJackson Hewitt Tax Service has been notified by the New York Stock Exchange that the company's common shares have fallen below the exchange's requirement that listed stocks have a minimum average share price of $1 per during a consecutive 30-day trading period. The company has until six months from receipt of the notice to meet the requirement or face possible delisting of its stock. It was the second such notice this year.

The tax preparation company has 10 business days to inform the NYSE of its intention. It had already received a notice on June 21 that it was also subject to possible delisting because Jackson Hewitt's average global market capitalization had fallen below $50 million or its total shareholder equity had dropped below the same mark. Jackson Hewitt has submitted a plan for regaining compliance with that standard over the next 18 months.

Bob Scott
Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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