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NYSE places Medley Management in noncompliant list

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NYSE places Medley Management in noncompliant list

The New York Stock Exchange added Medley Management Inc. to its list of noncompliant issuers.

Medley Management failed to hold an annual shareholders meeting for the fiscal year ended Dec. 31, 2018, in violation of The New York Stock Exchange's continued listing rule or standard.

Medley Management decided against the annual meeting because of Sierra Income Corp.'s planned acquisition of the company and Medley Capital Corp. as well as a special shareholders' meeting on Feb. 8 to vote on the planned deal.

The planned acquisitions of Medley Management and Medley Capital are expected to close in the first quarter of 2019.