Altisource Asset Management Says The Parties Agree To Dismissals Of Their Litigation With Prejudice And Exchange Mutual Releases Of All Claims With No Admission By Any Party Of Liability, Violation Of Law Or Wrongdoing

1/16/24 11:57:24 AM ET

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As a result of the settlement, which has the effect of increasing the Company's Stockholders' Equity to an amount exceeding $6,000,000, the New York Stock Exchange informed the Company that its November 30, 2023 notice of intent to delist the Company's common stock would be rescinded.

"We are pleased to announce AAMC's global resolution of these matters relating to Luxor," said William Erbey, Chairman and CEO of AAMC. "This represents a positive start to 2024 as we continue to focus and work hard on initiatives to enhance shareholder value going forward."

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Altisource Asset Management Corporation Repurchases Preferred Shares in Global Settlement With Luxor Capital
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces that it has settled litigation with Luxor Capital Group, LP and related entities (collectively "Luxor") in respect of the Company's Series A Convertible Preferred Stock (the "Preferred Shares"), as well as separate litigation with former AAMC director Nathanel Redleaf. Settlement Highlights Luxor surrenders all 144,212 of its Preferred Shares, thereby extinguishing all rights under the related Securities Purchase Agreement and Certificate of Designations. The Company provides the following consideration to Luxor: A $1,000,000 cash payment now, plus Three Promissory Notes in the foll
1/16/24 8:30:00 AM ET
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Altisource Asset Management Corporation Reports Key Ruling in Blackrock and PIMCO Litigation
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
12/6/23 4:05:00 PM ET
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Altisource Asset Management Corporation Announces Departure of COO and Interim CEO Danya Sawyer
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
12/5/23 4:05:00 PM ET
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Altisource Asset Management Corporation Reports a Stock Dividend in Lieu of a Stock Split and Appointment of New CFO
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) announces that the Board of Directors has elected to cancel the previously reported 2 for 1 common stock split and instead is proceeding with a 70% stock dividend. The Board also announces the promotion of Richard Rodick, previously Vice President, Finance, to Chief Financial Officer. Mr. Rodick succeeds previous CFO Stephen Krallman, who is resigning from his role effective September 14, 2023. "On further analysis and consideration, the Board has determined that a stock dividend will be utilized instead of a stock split to accomplish the Company's objective of achieving compliance with the NYSE's listing requir
9/8/23 5:00:00 PM ET
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Altisource Asset Management Corporation Announces Appointment of CEO
CHRISTIANSTED, U.S. Virgin Islands, July 06, 2022 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) today announced that the Board of Directors (the "Board") has appointed Jason Kopcak as the Chief Executive Officer of the Company and as a member of the Board. Prior to his appointment, Mr. Kopcak had been the President and Chief Operating Officer of the Company. The Board also appointed current director John P. de Jongh, Jr. as Chairman of the Board. Mr. de Jongh, Jr. had previously been interim Chairman of the Board. "The Board is pleased to announce the appointment of Jason as Chief Executive Officer and as a member of the Board. Jason's v
7/6/22 4:30:00 PM ET
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Altisource Asset Management Corporation Reports Completion of Previously Announced Termination of Asset Management Agreement with Front Yard Residential Corporation
CHRISTIANSTED, U.S. Virgin Islands, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Altisource Asset Management Corporation (“AAMC” or the “Company”) (NYSE American: AAMC) is pleased to announce that the Company has completed the previously announced transition contemplated by the Termination and Transition Agreement, dated August 13, 2020 (the “Termination Agreement”), by and among Front Yard Residential Corporation (“Front Yard”), Front Yard Residential L.P. and AAMC. Transaction Highlights AAMC was paid by Front Yard an aggregate termination fee of $46,000,000, of which $30,000,000 was paid to AAMC in cash and $16,000,000 was paid to AAMC in Front Yard’s common stock. AAMC transferred the eq
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Altisource Asset Management Corporation Announces Intention to Voluntarily Delist and Deregister Its Common Stock
Altisource Asset Management Corporation (NYSE:AAMC) (the "Company" or "AAMC") today announced its intention to voluntarily delist from the NYSE American LLC ("NYSE American") and to deregister its common stock, $0.01 par value per share (the "Common Stock") under Section 12(b) and Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and suspend its reporting obligations under Section 15(d) of the Exchange Act. As previously disclosed, the Company received a notification letter from the NYSE American advising that the Company is not in compliance with the NYSE American continued listing standards set forth in Sections 1003(a)(ii) and (iii) of the NYSE Ameri
8/26/24 4:19:00 PM ET
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Altisource Asset Management Corporation Reports Receipt of Communications From NYSE American
On May 31, 2024, Altisource Asset Management Corporation (the "Company") received a notification letter (the "Notice") from the NYSE American LLC (the "NYSE American") advising that the Company is not in compliance with the NYSE American continued listing standards set forth in Sections 1003(a)(ii) and (iii) of the NYSE American Company Guide given the reported stockholders' equity as of March 31, 2024, and losses from continuing operations and/or net losses in the Company's five most recent fiscal years ended December 31, 2023. The Notice also advised that the Company is not currently eligible for any exemption set forth in Section 1003(a) of the NYSE American Company Guide. In order to
6/6/24 4:15:00 PM ET
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Altisource Asset Management Corporation Letter to Shareholders
Altisource Asset Management Corporation ("AAMC" or the "Company") (NYSE:AAMC) posts the following letter to shareholders: Dear Fellow Shareholders: From my perspective, one of the most important assets of AAMC is our interest in the EV Alpha Control System business. Our interest in the Alpha Control System could be worth zero or a considerable value, depending on our ability to execute the strategy. My task is to control expenditures to provide AAMC the time to realize the potential of our assets. The goal is to reduce operating expenditures below $2.5 million per year and to minimize any undue risk on the balance sheet. Inquiries have been received concerning the progress reports we
5/17/24 8:30:00 AM ET
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Altisource Asset Management Says The Parties Agree To Dismissals Of Their Litigation With Prejudice And Exchange Mutual Releases Of All Claims With No Admission By Any Party Of Liability, Violation Of Law Or Wrongdoing

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Recent Analyst Ratings for
$AAMC

$AAMC
Financials

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Altisource Asset Management Corporation Repurchases Preferred Shares in Global Settlement With Luxor Capital

Altisource Asset Management Corporation Reports Key Ruling in Blackrock and PIMCO Litigation

Altisource Asset Management Corporation Announces Departure of COO and Interim CEO Danya Sawyer

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SEC Form 4 filed by Krallman Stephen Ramiro

SEC Form 4 filed by King Theodore Walker Cheng-De

SEC Form 3: New insider Frischer Charles L claimed ownership of 50,653 shares

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Altisource Asset Management Receives NYSE American Non-Compliance Notice For Continued Listing Standards Due To Stockholders' Equity And Recent Fiscal Year Losses

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