AAMC Files Lawsuit Against Former Board Member Nathaniel Redleaf for Improperly Disclosing Confidential Information for Financial Gain
Retrieved on:
Monday, October 31, 2022
Luxor acquired 19.7 percent of AAMC and then had its partner, Redleaf, join the AAMC board as part of a plan to funnel confidential information back to Leone and Luxor.
Key Points:
- Luxor acquired 19.7 percent of AAMC and then had its partner, Redleaf, join the AAMC board as part of a plan to funnel confidential information back to Leone and Luxor.
- One aspect of the scheme involved Luxors $150 million investment into AAMC preferred stock.
- The nonpublic information that Redleaf was privy to as an AAMC board member was illegally used by himself and Leone to make investment and trading decisions.
- The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, whether as a result of new information, future events, or otherwise.