Corus Bankshares Inc. said last night it got a notice from the Nasdaq stock market that it’s out of compliance with rules for listing its stock after failing to file a quarterly financial report on time.
Corus Bankshares owns Boston’s 441 Stuart Street in the Back Bay, and are trying to sell it through broker Jones Lang LaSalle, as previously reported in Banker & Tradesman.
Corus said it was working with advisers to raise capital, and those efforts prevented the company from finishing its financial statements for the quarter ended June 30.
The company said it was still reviewing the classification of assets and valuation adjustments needed to file the report with the Securities and Exchange Commission.
The company said it has until Oct. 12 to tell Nasdaq how it will regain compliance with rules for listing its stock on the exchange. The company said it could get until February to regain compliance.
Chicago-based Corus operates a wholly owned subsidiary, Corus Bank, N.A., which specializes in financing condominium, office, hotel and apartment projects.





