Nasdaq Tells Image Stock Price Too Low

Image Entertainment Inc. has three months to meet a minimum market value of its shares or face delisting from the Nasdag Global Market. The Chatsworth-based producer and distributor of home entertainment programming received a letter Aug. 4 indicating its shares failed to meet Nasdaq rules by not meeting a minimum value of $15 million. Image will have to maintain a stock price of $1.22 or higher for 10 consecutive trading days to meet the rule. The company does have the option to trade on the Nasdaq Capital Market rather than the Global Market if the stock price requirement is not met. The company currently has the financial, liquidity and corporate governance requirements of the Capital Market, said Image CFO Jeff Framer.