HOMS Trading Halted Again

February 14, 2002

Nasdaq Stops Trading Of Homestore Shares, Pending Receipt Of Additional Info

Inman News Features

The Nasdaq Stock Market halted trading in shares of HomeStore.com this morning. Trading initially was halted at 9:10 a.m. EST for "news pending" at a last sale price of 72 cents. The halt status subsequently was changed to "additional information requested."

Trading will remain halted until the company satisfies the additional information request.

Nasdaq previously halted trading of HOMS on Dec. 21, when the company told Nasdaq and the Securities and Exchange Commission its audit committee was conducting an internal inquiry into certain of the company's accounting practices. Trading resumed on Jan. 7 after Homestore provided additional information that had been requested at that time.

The company last month announced its intention to restate its financial statements for the first three quarters of last year by a preliminary estimate of $54-$95 million. The company today announced it also will restate earnings for 2000.

Copyright: Inman News Service

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