Valley Federal S&L; Dropped From NASDAQ: The...
From Times Staff and Wire Reports
Valley Federal S&L; Dropped From NASDAQ: The Van Nuys-based thrift said its common stock started trading on pink sheets after being dropped from trading on the National Assn. of Securities Dealers (NASDAQ) National Market System. Pink sheet stock prices are not generally quoted in daily newspapers. Valley Federal, which had a stockholders’ deficit of $3.56 million as of March 31, no longer met NASDAQ standards. The thrift has been profitable since reporting a large loss that wiped out its capital in 1989.
