Rithm Capital says ‘resolute’ in ‘commitment’ to pending transaction

Rithm Capita issued the following statement in response to the complaint filed by the Former EMD Group on October 17. “During the process, as outlined further in the Sculptor Management proxy statement, we engaged closely with Dan Och and the other members of the Former EMD Group over a period of several months, and in consultation with the Special Committee of Sculptor’s Board of Directors. Despite these efforts, we were disappointed to see the complaint filed yesterday by the Former EMD Group. We strongly disagree with and dispute the allegations against Rithm in the lawsuit from the Former EMD Group. We have tried to bring the parties together and have negotiated extensively with the Former EMD Group in good faith to have them be supportive of the transaction. We remain resolute in our commitment to this pending transaction, which we believe delivers immediate value for shareholders and investors and provides high certainty to close. Our recently announced amended agreement-which has received all necessary regulatory approvals and, as of today, has achieved all of the appropriate consents from clients necessary to complete the transaction-further maximizes value and reiterates this commitment. Unfortunately, the noise around this transaction, including the litigation by the Former EMD Group, will only continue to increase costs and otherwise risk harm to Sculptor, which negatively impacts Sculptor shareholders. Rithm remains committed to completing our transaction, and we are confident in the ability of the investment team at Sculptor to continue delivering performance for its LPs.”