James River Coal common stock to be delisted, suspended from Nasdaq

By Kali Hays

New York, April 11 - James River Coal Co.'s common stock is to be delisted by the Nasdaq stock market, and the trading of its common stock will be suspended beginning April 17, according to an 8-K filed Friday with the Securities and Exchange Commission.

Nasdaq's decision resulted from the company's April 7 Chapter 11 filing along with concerns regarding "the residual equity interest of the existing securities holders," the fact that the company's "common stock had closed below $1 per share for 30consecutive days" and the company's failure to timely file its annual 10-K with the SEC, according to the 8-K.

The company said it "does not intend to take any further action to appeal Nasdaq's decision" and further stated that it "cannot currently estimate when our Form 10-K will be filed."

James River, a coal company based in Richmond, Va., filed bankruptcy on April 7. The Chapter 11 case number is 14-31848.

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