Molecular Imaging requests de-listing from Berlin exchange

PET imaging services provider Molecular Imaging of San Diego has sent a letter to the Berlin Stock Exchange requesting immediate de-listing from that exchange.

The firm's common stock is currently listed on the Berlin Stock Exchange without its consent. The impermissible listings, which may include as many as 200 U.S. publicly traded companies, are believed to be part of an organized effort by U.S. and international brokers to circumvent rules against "naked short selling" that have been adopted recently by the National Association of Securities Dealers (NASD) and the Securities and Exchange Commission (SEC).

Naked short selling is the illegal practice of short-selling shares that have not been affirmatively determined to exist.

By AuntMinnie.com staff writers
June 11, 2004

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