NEW YORK, NY / ACCESSWIRE / June 6, 2016 / EDCI Holdings, Inc. (OTC: EDCI) (the "Company" or "EDCI"), today announced that the Arizona Court of Appeals affirmed the decision of the Superior Court of Maricopa County in regards to the indemnity claim from the City of Phoenix against one of the Company's subsidiaries. The Superior Court dismissed the claim because it was not brought within the eight-year period of repose.
However, the City of Phoenix has indicated it plans to further appeal the matter. Accordingly, the Company will not be evaluating a distribution until such time as that matter is resolved.
EDCI reminds its stockholders that effective January 25, 2013, EDCI has closed its transfer books. Since that time, certificates representing shares of our Common Stock are not assignable or transferable on the Company's books except by will, intestate succession or operation of law, and the Company will not issue any new stock certificates, other than replacement certificates. Transactions effected on the Pink Sheets or otherwise are not, accordingly, legally transfers of EDCI stock. Reference to the EDCI Pink Sheet trading ticker in this press release has been made in an effort to ensure the press release is made available on a website that the owners of EDCI stock as of January 25, 2013 have previously used to access updates on EDCI. EDCI is not otherwise undertaking to make any future information available, whether pursuant to any Pink Sheets / OTC Markets / or other disclosure standards.
About EDCI Holdings, Inc.
EDCI Holdings, Inc. (OTC: EDCI) is engaged in carrying-out its Plan of Complete Liquidation and Dissolution that was approved by EDCI's stockholders on January 7, 2010.
CONTACT:
Matthew K. Behrent
Executive Vice President of Corporate Development
(646) 201-9549
SOURCE: EDCI Holdings, Inc.