litigation
confidence high
sentiment negative
materiality 0.85
Two Harbors records $198.9M contingency liability after court ruling in PRCM dispute
TWO HARBORS INVESTMENT CORP.
- Court overruled company's objections; granted plaintiffs' summary judgment that Two Harbors had no cause to terminate management agreement.
- Company expects to accrue $198.9M in contingency liability and expense for May 2025 for termination fee plus pre-judgment interest.
- Company's own summary judgment motion denied; counterclaims dismissed.
- Additional claims for which summary judgment was denied are not accrued as loss not probable or estimable.