American Oriental Bioengineering Inc. Announces Suspension of Trading in its Common Stock and the Initiation of Delisting Proceedings by NYSE
NEWARK, N. J., May 31, 2012 /PRNewswire-Asia-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB) (the "Company"), today announced that it received written notification on May 25, 2012, from the NYSE Regulation, Inc. staff, on behalf of the New York Stock Exchange LLC ("NYSE"), that the staff had determined to immediately suspend trading in the common stock of the Company and file a delisting application with the United States Securities and Exchange Commission (the "SEC") pursuant to Section 804.00 of the Listed Company Manual. The staff stated in its notice that it had determined that the Company no longer meets the standard for continued listing on the NYSE and that it is necessary and appropriate for the protection of investors to immediately suspend trading in its common stock and initiate delisting proceedings. Trading in the Company's common stock on the NYSE had been halted since March 16, 2012.
As a result of the above actions, on Tuesday, May 29, 2012, the Company's common stock commenced quotation on the OTC Markets under the ticker symbol "AOBI."
About American Oriental Bioengineering, Inc.
American Oriental Bioengineering, Inc. is a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter products.
Safe Harbor Statement
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commission, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
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