AMEX Suspends Trading in Metropolitan Mortgage & Securities Preferred Stock
December 19 2003 - 7:09PM
PR Newswire (US)
AMEX Suspends Trading in Metropolitan Mortgage & Securities
Preferred Stock SPOKANE, WASH., Dec. 19 /PRNewswire-FirstCall/ --
Metropolitan Mortgage & Securities Co., Inc. said today that it
has been advised by the American Stock Exchange (AMEX) that trading
in the company's preferred stock has been suspended indefinitely.
The company said that AMEX expressed concerns about the closure of
Metropolitan Investment Securities, Inc. (MIS) and about the
concerns expressed by the National Association of Securities
Dealers (NASD) with respect to the sales practices of MIS in the
Acceptance, Waiver and Consent between the NASD and MIS.
Additionally, AMEX expressed a desire to review the company's
annual report on Form 10-K which has not yet been filed. The AMEX
has not indicated when, or if, trading would resume. Metropolitan
Mortgage & Securities Co., Inc., incorporated in the State of
Washington and headquartered in Spokane, has assets in excess of
$2.0 billion. Founded in 1953 by the late C. Paul Sandifur, Sr.,
today Metropolitan is lead by his son, C. Paul Sandifur, Jr. The
forward-looking statements in this release concerning future events
are subject to certain risks and uncertainties that could cause
actual results to differ materially from expectations. These and
other risks are set forth in Metropolitan's reports filed with the
Securities and Exchange Commission under the Securities Exchange
Act of 1934, as amended. DATASOURCE: Metropolitan Mortgage &
Securities Co., Inc. CONTACT: Mary Keller, Market Development &
External Affairs, +1-509-835-2811, or +1-509-994-8368
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