360networks, a Vancouver-based communications carrier, announced that the Nasdaq Stock Market will delist the company's shares, removing them from the exchange effective Friday. Stock in 360networks will continue to trade on the Toronto Stock Exchange, the company said. 360networks last traded at 21 cents per share on the Nasdaq.
360networks is building a massive fiber-optic network, but filed for Chapter 11 bankruptcy protections in the United States and similar Canadian protections in June. The company is led by former Microsoft Chief Executive Greg Maffei.