ST. LOUIS, Sept. 2 /PRNewswire/ -- K-V Pharmaceutical Company (NYSE: KVa/KVb) announced today that it has received notification from the New York Stock Exchange ("NYSE") stating that the Company has reestablished compliance with the NYSE's minimum share price requirements for continued listing on an accelerated basis.
The NYSE's notification confirmed that the average price of the Company's Class A Common Stock for the 30-trading days ended August 31, 2010, as well as the share price on August 31, 2010, exceeded the NYSE's minimum requirement of $1.00.
Greg Divis, Interim President and Chief Executive Officer of K-V, stated, "We are pleased that the Company's stock price has returned to compliance with the NYSE minimum for continued listing. While we still face many challenges, we are working hard to continue moving the Company forward."
The Company noted that it will remain under review by the NYSE because of the delay in filing its Form 10-K for the fiscal year ended March 31, 2010. The Company currently is working with its independent registered accountants, BDO USA, LLP, to file the report as soon as possible and to become current with all of its periodic SEC reporting.
About K-V Pharmaceutical Company
K-V Pharmaceutical Company is a fully-integrated specialty pharmaceutical company that develops, manufactures, markets and acquires technology-distinguished branded prescription products. The Company markets its technology-distinguished products through Ther-Rx Corporation, its branded drug subsidiary.
For further information about K-V Pharmaceutical Company, please visit the Company's website at www.kvpharmaceutical.com.
Cautionary Note Regarding Forward-looking Statements
This press release contains various forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1
|SOURCE K-V Pharmaceutical Company|
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