PIT STOP TO APPEAL NASDAQ LISTING DECISION
PIT STOP TO APPEAL NASDAQ LISTING DECISION PHOENIX, Feb. 4 /PRNewswire/ -- Pit Stop Auto Centers, Inc.
(NASDAQ: PSAC, PSACW) today announced it intends to appeal a NASDAQ commitee decision to deny the company's request for a waiver or exception to the new initial inclusion criteria. Pit Stop was listed on NASDAQ on July 31, 1990, and at that time, in the company's opinion, it exceeded all of the new initial listing requirements, although the new requirements had not been approved by the SEC at that time. At the time the requirements were cleared by the SEC, NASDAQ asked the company to prove compliance with the new initial listing requirements. It is the contention of Pit Stop that since it did meet compliance in July 1990, that it is unfair to ask the company to re-qualify at this time. The effect of the committee's decision is that the company's securities will no longer be quoted on NASDAQ. Although the company intends to appeal this matter, there is no assurance that, if appealed, the appeal will be successful.
-0- 2/4/92 /CONTACT: Tom E. Hays of Pit Stop Auto Centers, 405-843-9632, or 602-397-4303/ (PSAC) CO: Pit Stop Auto Centers Inc. ST: Arizona IN: AUT SU:
MA -- NY026 -- 6615 02/04/92 10:48 EST
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|Date:||Feb 4, 1992|
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