Superior National Insurance Group has voluntarily withdrawn its listing on the Nasdaq National Stock Market. Superior National does not meet the minimum financial qualifications to list its securities on the Nasdaq. It also does not qualify for listing on the Nasdaq SmallCap Market.
Trading on the stock will remain suspended until Superior National provides stockholders with notice that trading has resumed. The California Department of Insurance seized Superior National’s four California domiciled units on March 3, citing the workers’ comp carrier’s dangerous financial position. A similar action is expected in New York concerning Superior’s subsidiary Commercial Compensation Insurance Co.
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