FairPoint Could Get the Boot From NYSE

Shares of FairPoint Communications Inc. (FRP) had plunged 6.1 percent by early afternoon Tuesday on word the company risks being delisted from the New York Stock Exchange (NYSE).

FairPoint’s stock has remained below the $1 minimum for 30 straight trading days.

The New England LEC has said it’s working to realign its capital structure, a move that presumably would help boost its share price, but there’s been no word on that plan since August. FairPoint has been dealing with other problems, including accusations of faking network cutover tests and providing next to no customer service. In fact, the state of Vermont has threatened to revoke FairPoint’s operating license.

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