tl;dr
Altisource Asset Management (AAMC) has received a favorable ruling from a trial judge, allowing statutory and tort claims against six of seven defendants in its litigation against BlackRock (BLK) and Allianz SE's (ALIZF) Pimco to proceed. This decision endorses the 132-page recommendation issued by ...
Altisource Asset Management (AAMC) has received a favorable ruling from a trial judge, allowing statutory and tort claims against six of seven defendants in its litigation against BlackRock (BLK) and Allianz SE's (ALIZF) Pimco to proceed. This decision endorses the 132-page recommendation issued by the staff master assigned to the case and has had a significant impact on AAMC stock, which jumped 8.7% in Wednesday after-hours trading. The company's chairman, Ricardo Byrd, expressed optimism about moving the litigation process forward toward trial, with a status conference before the staff master scheduled for Jan. 12, 2024. This ruling is a notable development in a lawsuit filed in August 2018 by former Ocwen Financial (OCN) leader Bill Erbey, alleging that Pimco and BlackRock engaged in a plan to profit from the forced foreclosures of homes by crippling the Ocwen group.
More about Altisource Asset Management Corp
Altisource Asset Management Corp is a real estate and construction company providing portfolio management and corporate governance services to institutional investors in the United States. The company has a market capitalization of $9,259,800 and a stock price change of -6.12%. The stock is currently trading at $1.874 with a trading volume of 5,630,000. The market sentiment for Altisource Asset Management Corp is bearish with a Relative Strength Index (RSI) of -0.982 and a Bollinger Bands value of 2.602.
More about BlackRock Inc
BlackRock Inc, a multinational investment management corporation, has a market capitalization of $112.53 billion. The stock has a 52-week low of $19.88 and a high of $117.36, with a current price of $23.30. The stock has shown a 0.307% change in the last trading session, with a trading volume of 17,565,000 shares. The Relative Strength Index (RSI) is at 767.38, indicating a bullish trend. However, it's important to note that past performance is not always indicative of future results and there are always potential risks and uncertainties in the market. It's essential to keep a close eye on support and resistance levels, as well as any potential breakouts or patterns such as head and shoulders, to make informed investment decisions.
More about Ocwen Financial Corporation
Ocwen Financial Corporation is a financial services company that originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. With a market cap of $210,657,000 and a stock price of $136.54, the company has experienced a decrease of 10.96% in its stock performance. Market sentiment appears to be negative, with a Relative Strength Index (RSI) of -0.0922 and a Bollinger Bands value of -0.748. The company's stock has shown a 2.4% increase, indicating some bullish sentiment, but the overall performance suggests potential risks or uncertainties in the market. It is important to note that past market behavior is not always a reliable indicator of future performance.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.