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The InterGroup Corporation Regains NASDAQ Compliance

  //business-finance.news-articles.net/content/201 .. group-corporation-regains-nasdaq-compliance.html
  Published in Business and Finance on Wednesday, May 26th 2010 at 10:40 GMT by Market Wire
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LOS ANGELES--([ BUSINESS WIRE ])--The InterGroup Corporation (NASDAQ: [ INTG ]) today announced that, following a hearing held before a NASDAQ Listing Qualifications Panel (the aPanela) last month, the Panel determined to grant the Companya™s request for continued listing on The NASDAQ Capital Market pending InterGroupa™s return to compliance with either the minimum $2.5 million stockholdersa™ equity or the $35 million market value of listed securities (aMVLSa) requirement for continued listing.

On May 25, 2010, NASDAQ notified the Company that it achieved compliance with the minimum $35 million MVLS requirement and that it complies with all other applicable standards for continued listing on The NASDAQ Capital Market, thereby satisfying the requirements of the Panela™s decision. Accordingly, the Company will continue to be listed on NASDAQ and the delisting proceeding is now closed.

Statements in this release which are not historical facts are aforward looking statementsa and asafe harbor statementsa under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the Companya™s public filings with the Securities and Exchange Commission.