Capital Crossing Preferred Corporation Receives Nasdaq Staff Deficiency Letter and is Actively Seeking to Fill Existing Vacancie
22 Gennaio 2009 - 4:00AM
PR Newswire (US)
NEW YORK, Jan. 21 /PRNewswire-FirstCall/ -- Capital Crossing
Preferred Corporation (NASDAQ:CCPCN) announced today the receipt on
January 14, 2009 of a Nasdaq Staff Deficiency Letter indicating the
Company is no longer in compliance with Nasdaq Marketplace Rule
4350(d)(2)(A), which requires the Company to maintain an Audit
Committee comprised of at least three independent directors. As a
result of the recent, separate resignations of two members of the
Company's Board of Directors who each served on the Audit
Committee, the Company's Audit Committee presently has only one
member. The Company is actively seeking to fill the existing
vacancies on the Audit Committee, but there can be no assurances
that the Company will be able to satisfy the requirements of
Marketplace Rule 4350(d)(2)(A) within the required time periods or
at all. For additional information, please see the Company's
Current Report of Form 8-K filed with the Securities and Exchange
Commission on January 15, 2009. ABOUT CAPITAL CROSSING PREFERRED
CORPORATION. Capital Crossing Preferred Corporation acquires and
holds real estate assets consisting primarily of mortgage assets
secured by commercial and multi�??family properties. Lehman
Brothers Bank, FSB is the sole holder of the Company's common
stock. The Company's 8.50% Non-Cumulative Exchangeable Preferred
Stock, Series D, is listed on The Nasdaq Stock Market under the
symbol "CCPCN". DATASOURCE: Capital Crossing Preferred Corporation
CONTACT: Deborah Munies, Capital Crossing Preferred Corporation,
+1-973-261-1961
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