ASTA FUNDING (NASDAQ:ASFI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 22, 2019, Bruce R. Foster, the Chief Financial Officer of Asta Funding, Inc. (the “Company”), informed the Company that he intends to resign his employment with the Company. The Company is undertaking a search to find Mr. Foster’s successor. Mr. Foster’s resignation as Chief Financial Officer will be effective on September 22, 2019 and the Company and Mr. Foster are discussing a consulting arrangement by which Mr. Foster would provide certain services to the Company in order to ensure an orderly transition of his duties to his successor.
About ASTA FUNDING (NASDAQ:ASFI)
Asta Funding, Inc. is primarily engaged in the businesses of acquiring, managing, servicing and recovering on portfolios of consumer receivables. The Company operates through four segments: Consumer Receivables, Personal Injury Claims, Structured Settlements and GAR Disability Advocates. The Consumer receivables segment is engaged in purchasing, managing for its own account and servicing distressed consumer receivables, including charged off receivables, semi-performing receivables and performing receivables. The Personal injury claims segment includes the operations of its subsidiary, Pegasus Funding, LLC. The Structured settlements segment includes the operations of CBC Settlement Funding, LLC (CBC). The GAR Disability Advocates segment includes the operations of GAR Disability Advocates, LLC (GAR Disability Advocates). GAR Disability Advocates is a social security benefit and disability advocacy group.