NEW YORK (TheStreet) -- YRC Worldwide (YRCW) wasn't alone in receiving a warning letter from the Nasdaq last month.
YRC Worldwide, like several other companies, received notice in March that it is in violation of a Nasdaq listing rule that requires a stock to maintain a minimum bid price of $1. These companies now have less than six months to regain compliance with the rule or face delisting from the exchange. The following 10 stocks, ranked by revenue over the trailing 12 months, received notice in March and remain on the Nasdaq's list of deficient companies as of April 6.
YRC Worldwide (YRCW)
Closing price: 57 cents (April 7)
Revenue: $5.28 billion (trailing 12 months)Received Nasdaq notice: March 3, 2010 Management's expected action: Shareholders have authorized YRC Worldwide's board of directors to effect a reverse stock split within a range of 5-to-1 to 25-to-1. That would bring the approximately 1 billion outstanding shares to a post-reverse-stock-split range of roughly 40 million to 200 million. However, under the terms of a $70 million private placement transaction, YRC Worldwide has agreed not to implement a reverse stock split prior to April 24. The company expects to effect the reverse stock split during the second quarter.
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