litigation
confidence high
sentiment positive
materiality 0.75
FORUM MARKETS Inc (FRMM): auditor change — 180 Life Sciences gets $1.5M from AmTrust; replaces auditor Marcum with M&K CPAs
FORUM MARKETS Inc
- AmTrust paid $2.27M; company netted $1.5M after attorney fees for D&O coverage reimbursement.
- Court ruled company is insured under both AmTrust and Freedom policies; Change in Control exclusion still disputed at trial.
- Dismissed Marcum LLP as auditor; engaged M&K CPA's, PLLC for FY2024.
- Marcum's audit reports had going concern uncertainty; no other disagreements or reportable events.