Los Angeles - Still reeling from securities fraud charges leveled at the company and its former CEO, comedy purveyor National Lampoon announced on Wednesday that it is voluntarily delisting its shares from the NYSE Alternext.

The company said the decision was "based on the determination that it is unlikely that the company will be able to comply with the exchange's listing requirements as they relate to the company's financial condition and operating results and the market value of the company's common stock."

National Lampoon intends to list shares on the Over-the-Counter Bulletin Board once the NYSE delisting is completed.

The SEC in December charged CEO Daniel Larkin and others with "engaging in three separate fraudulent schemes to manipulate the market for publicly traded securities through the payment of prearranged kickbacks."

Larkin has since resigned from the company.

Related Links:
http://www.businesswire.com/news/home/20090113006399/en

http://snipurl.com/a2cda (DMW previous coverage)

http://www.nationallampoon.com