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MURRAY HILL, N.J.-Following in the footsteps of Nortel Networks, Palm Inc. and other wireless companies, Lucent Technologies Inc. said it will ask its shareholders to approve a reverse stock split, a measure aimed at avoiding possible delisting.
The company’s stock has traded consistently at below a dollar. It faces delisting if the trend continues for 30 consecutive trading days.
The company expects an official notification from the New York Stock Exchange over its closing price soon.
