AAMC - Mergers and acquisitions

Court Permits AAMC's Claims to Proceed Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) reports a key development in its litigation seeking damages from Blackrock and PIMCO pending in the Superior Court of the U.S. Virgin Islands. On December 4, 2023, the trial judge ruled that six of the seven named Defendants are subject to the court's jurisdiction and that all of the Company's statutory and tort claims against those defendants are permitted to proceed. In so doing, the trial judge endorsed the 132-page Recommendation previously issued by the Staff Master assigned to review the pending motions in the case. "We are pleased with this pivotal development in t

Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces the resignation of Danya Sawyer, Chief Operating Officer of Alternative Lending Group, the Company's principal operating subsidiary. Ms. Sawyer, whose departure was effective December 1, 2023, also served as AAMC's interim Chief Executive Officer during the recent restructuring of the Company's loan business. "We appreciate Danya's excellent service and contributions to the Company," said Chairman of the Board Ricardo Byrd. "We wish her well in her future endeavors." A successor CEO is expected to be announced within 30 days. About AAMC AAMC acquires, originates and manages mortgage loans, mortgage

Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces that on November 30, 2023, the Company received a written notice (the "Notice") from the New York Stock Exchange ("NYSE" or the "Exchange") that the NYSE would delist the Company's shares of common stock (the "Securities") from the Exchange. NYSE Regulation staff has determined that the Company is no longer qualified for listing pursuant to Section 1009(a) of the NYSE American Company Guide, citing non-compliance with Sections 1003(a)(i), (ii) and (iii) thereof. The Company has a right to appeal this determination, provided that it files a written request for such review within seven (7) calendar days

Company Moves Forward with Restructure of Lending Operations Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces the resignation of Chief Executive Officer, Jason Kopcak. "We remain committed to the mortgage space," said Chairman of the Board Ricardo Byrd. "As the Board considers potential replacements, we have appointed Danya Sawyer, Chief Operating Officer of Alternative Lending Group, the Company's principal operating subsidiary, to serve as Interim CEO of AAMC." Significant Progress on Cost Cutting Initiatives and Enhancing Liquidity As announced during the Company's recent Earnings Call, the Board mandated a comprehensive review of the Compan

Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) today announced financial and operating results for the second quarter of 2023. Second Quarter 2023 Results and Recent Developments AAMC obtained a favorable ruling in its litigation with its preferred shareholder, Luxor, where the appeals court found that AAMC did not breach any contractual obligations. In the Company's lawsuit against Blackrock and PIMCO, a court-appointed Staff Master recommended that all of the Company's tort and CICO damage claims may proceed in USVI court. AAMC second quarter operating results 2023 were similar to the first quarter of 2023. In July 2023, AAMC's Board of Dire