Star Scientific Stock Price Prompts Nasdaq Notice

GLEN ALLEN, Va. (AP) – Dietary supplement maker Star Scientific Inc. says its stock price has prompted notice from Nasdaq that it isn’t in compliance with the stock market’s rules.
The Glen Allen, Virginia-based company said Friday it received notice from Nasdaq that it’s not in compliance because its stock has closed below $1 per share for 30 business days.
It has until Oct. 27 to regain compliance or the stock will be subject to delisting.
Star Scientific announced earlier this week that it’s hired a company to track its stock trading behavior amid an ongoing corporate transition.
Its former CEO also is at the center of a scandal that led to a federal incitement alleging that former Gov. Bob McDonnell and his wife accepted loans and gifts in exchange for promoting the company’s products.

(Copyright 2014 The Associated Press. All rights reserved.)

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