PMI Group 8-K 2011
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 28, 2011
THE PMI GROUP, INC.
(Exact Name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation)
(Registrants Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
ITEM 3.01. NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING.
On November 28, 2011, The PMI Group, Inc. (TPG) received notice from the staff of NYSE Regulation, Inc. (NYSE Regulation) that NYSE Regulation has determined that TPGs common stock is subject to delisting from the New York Stock Exchange (the NYSE) and that trading of TPGs common stock has been suspended. NYSE Regulation indicated that in making this decision it considered TPGs voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. In addition, NYSE Regulation indicated that it considered the actions taken by the Director of the Arizona Department of Insurance (the Director) on October 20, 2011 and the November 22, 2011 decision by the Superior Court of Arizona denying TPGs motion to vacate the interim order directing the Director to take control and possession of TPGs wholly-owned subsidiary, PMI Mortgage Insurance Co. Additionally, NYSE Regulation noted the uncertainty regarding the effect of the Directors actions on TPGs equity holders, that TPG had previously been notified that it had fallen below the NYSEs continued listing standard for average closing price of less than $1.00 over a consecutive 30 trading day period, and that TPG has not filed its September 30, 2011 Form 10-Q.
As previously reported, the NYSE halted trading of TPGs common stock on October 21, 2011, which was the last day that TPGs common stock traded on the NYSE. TPG does not intend to take further action to appeal NYSE Regulations decision. It is therefore expected that TPGs common stock will be delisted after the completion of NYSE Regulations application for delisting filed with the Securities and Exchange Commission.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.