SECURITIES

Nasdaq Delists Two Companies: The Nasdaq Stock Market delisted two companies cited by the Justice Department in fraud charges brought in Brooklyn, N.Y. The conduct of the companies, Lighthouse Point, Fla.-based ICIS Management Group Inc. and West Babylon, N.Y.-based Comprehensive Environmental Systems Inc., was “egregious,” said Nasdaq President Alfred Berkeley. The U.S. attorney in Brooklyn announced Oct. 4 the arrest of six people, including three charged with exercising concealed control of ICIS and Comprehensive. The trio--Grant Curtis, Leo Mangan and Tim Masley--caused the companies to issue millions of discounted shares for as little as 10 cents each, the charges said. The two companies were listed on the Nasdaq SmallCap Market.