Altisource Asset Management Reports Favorable Ruling From New York Appellate Court
Portfolio Pulse from Benzinga Newsdesk
Altisource Asset Management (AAMC) announced a favorable ruling from the Supreme Court of the State of New York, Appellate Division, stating that the company did not breach any contractual obligation to redeem preferred shares held by Luxor Capital Group.
June 13, 2023 | 9:37 pm
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AAMC received a favorable ruling from the New York Appellate Court, stating that it did not breach any contractual obligation to redeem preferred shares held by Luxor Capital Group.
The favorable ruling for AAMC in the New York Appellate Court is a positive development for the company. It eliminates the risk of potential legal liabilities and financial consequences related to the redemption of preferred shares held by Luxor Capital Group. This news is likely to have a positive impact on AAMC's stock price in the short term.
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