Altisource Asset Management Corporation Announces Favorable Ruling from New York Appellate Court
13 Junho 2023 - 6:35PM
Business Wire
Altisource Asset Management Corporation (NYSE: AAMC) announced
today that the Supreme Court of the State of New York, Appellate
Division, First Judicial Department issued a ruling in favor of the
company that it did not breach any contractual obligation to redeem
preferred shares held by Luxor Capital Group.
The appellate court held that AAMC, "established its entitlement
to summary judgment dismissing the complaint. In opposition [Luxor]
failed to raise a triable issue of fact, and also failed to
establish their entitlement to summary judgment on their own
motion."
The court further directed the Clerk to enter judgment
dismissing Luxor's complaint.
For inquiries, please reach out to IR@altisourceamc.com.
About AAMC
AAMC is a private credit provider that originates alternative
assets to provide liquidity and capital to under-served markets. We
also continue to assess opportunities that could potentially be of
long-term benefit to shareholders. Additional information is
available at www.altisourceamc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230613866524/en/
Investor Relations T: +1-704-275-9113
E: IR@AltisourceAMC.com Twitter: @altisourceamc
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