John Ruiz, CEO of LifeWallet. (Courtesy photo) LifeWallet Intends to Fight Nasdaq Delisting With Reverse Stock Split as Shares Trade Below 10 Cents
The company, founded by plaintiffs lawyer John Ruiz, received notice this week of an impending delisting determination due to its low stock price, according to a Friday afternoon SEC filing.
September 08, 2023 at 05:52 PM
3 minute read
LifeWallet intends to use a reverse stock split to boost its languishing share price and avoid a delisting determination from Nasdaq, according to a Friday afternoon U.S. Securities and Exchange Commission filing.
The Miami-based health care data company and Medicare recovery firm founded by lawyer John Ruiz received a delisting determination notice from Nasdaq on Sept. 5 after the stock traded below 10 cents for 10 consecutive business days, a violation of the Nasdaq Capital Market's rules against penny stocks.
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