Everest Consolidator Acquisition Corporation filed SEC Form 8-K: Other Events
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| Item 8.01. | Other Events. |
As previously disclosed in the definitive proxy statement filed by Everest Consolidator Acquisition Corporation (the “Company”) on November 18, 2024, DLA, LLC (“DLA”) filed a lawsuit against Equiniti Trust Company, LLC (the “Trustee”) for unpaid accounting fees in connection with the services DLA provided in the business combination between the Company and Unifund Holdings, LLC that was terminated in October 2024.
In connection with this litigation (Supreme Court of New York, County of New York, Index No. 655723/2024), the court, on November 1, 2024, entered a temporary injunction order which restrained the Trustee from distributing from the trust account established by the Company in connection with its initial public offering (the “Trust Account”) amounts that would leave the balance of such account below the approximately $3 million that DLA alleges it is owed.
As previously disclosed, DLA also threatened to pursue legal action against the Company and Everest Consolidator Sponsor, LLC, a Delaware limited liability company (the “Sponsor”) if the Company or the Trustee did not pay such allegedly owed fees.
On November 20, 2024, DLA filed a lawsuit against the Company and the Sponsor in Superior Court of New Jersey (Law Division: Essex County, Docket No. ESX-L-D008097-24) for such allegedly owed fees.
On December 3, 2024, the New Jersey court granted a preliminary injunction.
While the Company continues to believe DLA’s allegations are baseless and that DLA has no valid claim against the funds in the Trust Account, due to the injunctions, the Trustee is unable to process redemption requests and the Company is currently unable to instruct the Trustee to process redemption requests.
At this time, the Company cannot predict the ultimate dispositions of these litigations.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Everest Consolidator Acquisition Corporation | ||
| Date: December 26, 2024 | By: | /s/ Adam Dooley |
| Name: | Adam Dooley | |
| Title: | Chief Executive Officer | |
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