Bankrupt WCI Moves to Deregister Common Stock

WCI Communities is taking one more step toward fading into obscurity. The Bonita Springs, Fla.-based company, which has been under Chapter 11 bankruptcy court protection since August 2008, announced its plans to file paperwork to deregister its common stock by March 30.

The move, which is possible because the company's common stock is held by less than 300 people, suspends its obligation to file periodic and current financial reports with the U.S. Securities and Exchange Commission (SEC), including 10-K, 10-Q, and 8-K forms.