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GoPrime Mortgage, Inc. Announces Repurchase of Stock and Settlement of Litigation With TAC Investments, LLC

GoPrime Mortgage, Inc.
·2-min read

The Global Growth Holdings, Inc. and GoPrime Mortgage teams worked tirelessly to negotiate and execute this comprehensive resolution. JR and the rest of the GPM's officers are excited about the future of the Company, and all parties are happy to put the litigation behind them.

APEX, N.C., Oct. 21, 2021 (GLOBE NEWSWIRE) -- GoPrime Mortgage, Inc. (the "Company" or "GPM") has completed the repurchase of all the preferred stock owned by TAC Investments, LLC ("TAC"), a North Carolina limited liability company and portfolio company of Global Growth Holdings, Inc. ("GGHI"). Following the repurchase, the Company is again wholly-owned by John Rodgers ("JR"). Financial details of the repurchase transaction are not being disclosed.

GPM, TAC, JR, and Greg Lindberg have been in litigation regarding the ownership of the Company and other issues since February 2020. In connection with the stock repurchase, and as a condition to the consummation of the repurchase, GPM, TAC, JR, and Greg Lindberg agreed to settle, release, and dismiss all claims in litigation.

The GGHI and GPM teams worked tirelessly to negotiate and execute this comprehensive resolution. JR and the rest of the GPM's officers are excited about the future of the Company, and all parties are happy to put the litigation behind them. "I am thrilled to put this matter behind me and move on. Working with the new CEO of Global Growth brought a fresh face to a complicated problem which was ultimately resolved," said John Rodgers.

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ABOUT GPM

GoPrime has a vision of changing the way homeowners experience the mortgage process. Headquartered in Apex, N.C., veteran-owned, and led by an engaged executive leadership team, GoPrime, is an agile business with long-term, dedicated employees who focus every day on service, innovation, teamwork, and accountability We are focused on making an impact in the lives of our customers. This is fulfilled by delivering a quality mortgage experience and championing an exceptional company philosophy that is dedicated to improving the communities we serve.

Contact:
Jessie Norris (Tennis)
Director of Marketing
jtennis@goprime.com

This content was issued through the press release distribution service at Newswire.com.