Magnetek to Stay Listed on NYSE

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Magnetek Inc. said Monday that the New York Stock Exchange will continue to list the Los Angeles-based company’s stock.


In July, the NYSE informed Magnatek, which makes digital power controls, that if the company’s market cap fell below the minimum $75 million for more than 30 days, it would fail to meet listing requirements and would be dropped from the exchange. Magnetek then was given 45 days to submit a business plan outlining how it will regain compliance, which it did.


Details of the plan were not released. The company is subject to quarterly reviews to monitor its progress against the plan.

Shares of Magnatek shed were unchanged at $3.40 in midday trading.

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