Timeshare Company Sunterra Says Nasdaq To Delist Stock

Timeshare vacation company Sunterra Corp. on Thursday said a Nasdaq panel denied its request for continued listing on the stock market after it failed to file its quarterly report in time.

Sunterra also said the U.S. Securities and Exchange Commission was conducting an informal inquiry with respect to recent events regarding the company.

The timeshare company's stock would be delisted effective July 7, it said in a statement.