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BRIEF-Ashford Hospitality-district court issued mandate on May 5 in lawsuit palm Beach Florida Hotel and office building LP V. Nantucket enterprises
May 10, 2017 / 10:49 AM / 5 months ago

BRIEF-Ashford Hospitality-district court issued mandate on May 5 in lawsuit palm Beach Florida Hotel and office building LP V. Nantucket enterprises

May 10 (Reuters) - Ashford Hospitality Trust Inc:

* Ashford Hospitality-district court issued mandate on May 5 in lawsuit palm beach florida hotel and Office Building LP V. Nantucket Enterprises

* Ashford Hospitality-court’s mandate resulted in an estimated final judgment of approximately $14.4 million

* Ashford Hospitality-estimates post-judgment interest to be about $1.8 million and increased its estimate of total loss related to reimbursement of legal fees

* Ashford Hospitality-total amount of recorded loss is now about $17.0 million as of March 31 related to reimbursement of the plaintiff’s legal fees

* Ashford Hospitality-total amount of recorded loss related to reimbursement resulted in additional accrual in 3 months ended March 31 of about $3.8 million

* Ashford Hospitality-after revised estimate of loss related to legal fee, net loss attributable to stockholders was $0.39 for three months ended March 31 Source text: (bit.ly/2q2hwYL) Further company coverage:

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