LINN Energy LLC and LinnCo LLC have been delisted from The NASDAQ Stock Market. Trading of LINN and LinnCo securities were suspended prior to the open of the market today, Tuesday, May 24, 2016. NASDAQ will file a Form 25-NSE with the Securities and Exchange Commission, which will remove the companies’ securities from listing and registration on The NASDAQ Stock Market. LINN and LinnCo securities are expected to begin trading on the OTC Pink Sheets marketplace on Tuesday, May 24, 2016, under the symbols LINEQ and LNCOQ.
The companies do not intend to file a plan to regain compliance or to appeal NASDAQ's determination.
The companies can provide no assurance that its common stock will continue to trade on the OTC Pink Sheets, whether broker-dealers will continue to agree to provide public quotes of the companies’ common stock on this market, whether the trading volume of the companies’ common stock will be sufficient to provide for an efficient trading market or whether quotes for the companies’ common stock will continue on this market in the future.
On May 11, 2016, LINN Energy, LinnCo, certain of the company's direct and indirect subsidiaries, and Berry Petroleum Co. LLC, filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code.