August 17, 2011
Evergreen Solar Dropped By Nasdaq
By Christina Davis
Marlborough-based Evergreen Solar disclosed in a filing with the Securities and Exchange Commission that it received notice on Monday from the Nasdaq that its stock will be delisted.
Trading of the company's stock will be suspended at the opening of business on Aug. 24.
Evergreen Solar received the notice after the firm announced Monday that it had filed a voluntary petition for Chapter 11 bankruptcy protection.
The solar panel maker had been in violation of Nasdaq rules for failing to maintain a minimum share price of $1 and for failing to maintain a minimum market value of $35 million.
Evergreen Solar said it will not appeal the Nasdaq's delisting decision.
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