INTERSECTIONS INC. (NASDAQ:INTX) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01.
INTERSECTIONS INC. (NASDAQ:INTX) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on December 20, 2016, H. Stephen Bartlett informed the Board of Directors (the “Board“) of Intersections Inc. (the “Company“) that he is resigning as a director of the Company effective December 20, 2016. As a result of Mr. Bartlett’s resignation, the audit committee of the Board is currently comprised of only two independent directors.
On December 22, 2016, the Company received a customary letter from the NASDAQ Stock Market (“NASDAQ“) noting that, as a result of Mr. Bartlett’s resignation, the Company is no longer in compliance with Rule 5605(c)(2)(A) of the NASDAQ Listing Rules, which requires that the audit committee of the Board be comprised of at least three directors who meet certain independence and other requirements. The letter also noted that the Company can rely on the cure period provided by Rule 5605(c)(4) of the NASDAQ Listing Rules, which allows the Company until the earlier of the Company’s next annual meeting of stockholders or December 20, 2017 (or, if the Company’s next annual meeting of stockholders is held before June 19, 2017, until June 19, 2017) to regain compliance. The Company intends to appoint an additional independent director to the audit committee of the Board prior to the end of the cure period.
About INTERSECTIONS INC. (NASDAQ:INTX)
Intersections Inc. uses data to enable consumers reduce risk through subscription services. The Company’s operating segments include Personal Information Services, Insurance and Other Consumer Services, and Bail Bonds Industry Solutions. The Company’s Personal Information Services business segment focuses on helping consumers understand, monitor, manage and protect against the risks associated with third parties misusing their personal information and violating their privacy. The Company’s Insurance and Other Consumer Services business segment focuses on helping consumers use insurance and other services to manage various personal risks and achieve personal goals. The Company’s Bail Bonds Industry Solutions business segment focuses on automating the bail bonds industry. The Company offers IDENTITY GUARD portfolio of services. The Company’s insurance products are sold and administered pursuant to contracts with insurance companies. INTERSECTIONS INC. (NASDAQ:INTX) Recent Trading Information
INTERSECTIONS INC. (NASDAQ:INTX) closed its last trading session up +0.12 at 3.95 with 173,120 shares trading hands.
Intersections Inc. uses data to enable consumers reduce risk through subscription services. The Company’s operating segments include Personal Information Services, Insurance and Other Consumer Services, and Bail Bonds Industry Solutions. The Company’s Personal Information Services business segment focuses on helping consumers understand, monitor, manage and protect against the risks associated with third parties misusing their personal information and violating their privacy. The Company’s Insurance and Other Consumer Services business segment focuses on helping consumers use insurance and other services to manage various personal risks and achieve personal goals. The Company’s Bail Bonds Industry Solutions business segment focuses on automating the bail bonds industry. The Company offers IDENTITY GUARD portfolio of services. The Company’s insurance products are sold and administered pursuant to contracts with insurance companies. INTERSECTIONS INC. (NASDAQ:INTX) Recent Trading Information
INTERSECTIONS INC. (NASDAQ:INTX) closed its last trading session up +0.12 at 3.95 with 173,120 shares trading hands.