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2 Medley Capital directors resign

John Mack and Mark Lerdal resigned from Medley Capital Corp.'s board, effective March 18.

Due to their resignations, the New York Stock Exchange on March 19 sent a notice to Medley Capital that it is now in noncompliance with rules requiring a majority of independent directors for listed companies and that an audit committee should have at least three members.

Medley Capital disclosed March 14 that a Delaware court ruled its board breached their fiduciary duties in agreeing to merge with Sierra Income Corp.