BUZZ-Modivcare plunges as Nasdaq to delist stock amid bankruptcy filing

Reuters

08/25

BUZZ-Modivcare plunges as Nasdaq to delist stock amid bankruptcy filing

** Shares of healthcare service provider Modivcare MODV.O fall 48% to 55 cents premarket

** MODV late on Friday received notice from Nasdaq that it will be delisted due to filing for Chapter 11 bankruptcy

** Co filed for bankruptcy protection last week to restructure its finances

** MODV also failed to file its quarterly report for quarter ended June 30, violating Nasdaq listing rules

** Nasdaq will suspend trading of MODV's shares on August 28; co will not appeal the delisting

** As of last close, stock down ~91% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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