The New York Stock Exchange has notified Medifast Inc., a direct marketer of diet plans, that it is not in compliance with the its continued listing standards.
Specifically, the company said its total market capitalization over 30 consecutive days fell short of the required $75 million and its most recently reported shareholders’ equity was also below $75 million.
Consequently, MediFast has 45 days to submit a plan to the NYSE to demonstrate its ability to achieve compliance with the continued listing standards within 18 months.
Medifast said it would submit such a plan in time.
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