NEW YORK - Altisource Asset Management Corporation (NYSE:AAMC), a firm specializing in mortgage loan and mortgage-backed security management, is confronting a delisting warning from the New York Stock Exchange (NYSE).
The company was notified that it had fallen short of the NYSE's continued listing standards, specifically Sections 1003(a)(i), (ii), and (iii) as of November 30, 2023. In response to this warning, AAMC is preparing to appeal within the stipulated seven-day period.
AAMC's financial health is under scrutiny due to several risk factors outlined in recent SEC filings. Among these are employee costs and ongoing litigation issues related to its Series A Convertible Preferred Stock. The outcome of the appeal and subsequent ruling by the Listings Qualifications Panel will be critical for the company's continued presence on the NYSE.
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