Troubled insurer had mistaken suspension notice for 3 hours
The New York Stock Exchange (NYSE) mistakenly posed a suspension notice about AIG shares yesterday as the price tumbled, Dow Jones and Bloomberg report.
It took down the notice after three hours after AIG contacted it. NYSE said that it regretted the error and that AIG is not subject to suspension and delisting.
The NYSE’s automatic the system misread the 1-for-20 reverse stock split that went into effect after AIG shareholders approved the move late Tuesday.
Dow Jones said: “The errant notice didn't appear to have a significant impact on trading in AIG shares Wednesday. The stock was already down 20% by the time the notice was posted. AIG shares closed down 22% at $18.08, and were little changed in after-hours trading.
