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NYSE suspends trading in RAIT Financial Trust's shares

RAIT Financial Trusts shares were suspended from trading on the NYSE after the exchange determined that its trading price was too low to meet the listing requirements.

RAIT plans to appeal by May 25 the NYSE's decision to delist the stock. During the appeal period, RAIT remains listed on the NYSE though trading is suspended on the exchange.

The company's shares were approved to commence trading on the OTC Markets trading platform, effective May 15.