Tweeter to leave NASDAQ list

CANTON, Mass. Tweeter Home Entertainment Group announced today that on June 12 it received a letter ffrom the Listing Qualifications Department of The NASDAQ Stock Market indicating that, as a result of the company's having filed for protection under Chapter 11 of the U.S. Bankruptcy Code, the NASDAQ staff has determined, using its discretionary authority under NASDAQ Marketplace Rules 4300, 4450(f) and IM-4300, that the company's securities will be delisted from the NASDAQ Stock Market and that trading in the company's common stock will be suspended, unless the company files an appeal of the determination.

On June 11, Tweeter announced that it had filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The company said it does not intend to appeal the NASDAQ staff's determination. Accordingly, trading of the company's common stock will be suspended at the opening of business on June 21 and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the company's securities from listing and registration on The NASDAQ Stock Market.