NASDAQ Strikes Magna From Its Stock Listings

By Richard Brenneman
Monday March 09, 2009 - 07:39:00 PM

The NASDAQ Stock Market, the nation’s leading electronically based stock exchange, is striking Magna Entertainment Co., the owner of Albany’s Golden Gate Fields, from its listings.  

That action, announced late Monday, follows a similar move announced a week ago by the Toronto Stock Exchange, which also delisted Magna effective at the end of March. NASDAQ’s order takes effect April 15. 

The NASDAQ action also follows Magna’s filing of bankruptcy actions in both countries and the announcement that the company would be selling off some of its key assets, including Golden Gates Fields.