Replies to post #246767 on Avid Bioservices Inc (CDMO)

[exwannabe]

Re: PL and termination.

Personally I think this means PJ is no longer chasing PPHM financing business, and that is that.

On the rules, first the new rule is FINRA 2241 (FINRA has replaced the old NASD).

(f) Termination of Coverage
A member must promptly notify its customers if it intends to terminate coverage of a subject company. Such notice must be made using the member's ordinary means to disseminate research reports on the subject company to its various customers. The notice must be accompanied by a final research report, comparable in scope and detail to prior research reports, and include a final recommendation or rating. If impracticable to provide a final research report, recommendation or rating, a member must disclose to its customers its reason for terminating coverage.

The key point is that they must disclose this to their customers, no public disclosure required. Just like the reports themselves that are often only available to customers.