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CIM Commercial regains compliance with Nasdaq rule

CIM Commercial Trust Corp. regained compliance with Nasdaq listing rules shortly after receiving a noncompliance notice regarding its series L preferred stock.

In response to two letters received Jan. 30, which claimed that the office real estate investment trust was in violation of the regulatory agency's bid price and market value rule, CIM said its dually listed preferred stock has always maintained a bid price and a market value on the Tel Aviv Stock Exchange in line with the rules and regulation of the exchange.

CIM received a letter Feb. 2 from Nasdaq about being in compliance with its bid price and market value rule.