Sparta Commercial Services, Inc. (OTCMKTS:SRCO) Files An 8-K Other Events

Sparta Commercial Services, Inc. (OTCMKTS:SRCO) Files An 8-K Other Events
Item 8.01 Other Events

On February 22, 2017, the United States Court of Appeals for the Second Circuit affirmed the decision of the lower court, the United States District Court, Southern District of New York, in the action entitled Sparta Commercial Services Inc. v. DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, New York.

The lower court decision had resulted in an order dismissing the claims of both parties. The Cross-Appeal filed by DZ Bank seeking attorney’s fees from Sparta in excess of $2 million was also denied in its entirety.
Sparta is reviewing its options regarding further proceedings. There can be no assurance that the Court of Appeals’ decision is a final adjudication of all claims, or that there will be no further determinations of liability sought by either party in this matter.

About Sparta Commercial Services, Inc. (OTCMKTS:SRCO)

Sparta Commercial Services, Inc. is a technology company that develops, markets and manages business mobile application for smartphones and tablets. The Company also owns and manages Websites, which sell on-demand motorcycle, recreational vehicle, power-sport vehicle and truck title history reports for consumers, retail dealers, auction houses, insurance companies and banks/finance companies. The Company, on a pass through basis, offers an equipment-leasing product for local and state agencies throughout the country to finance their equipment needs, including police motorcycles and cruisers, buses and emergency medical service (EMS) equipment. The Company, through its subsidiary, iMobile Solutions, Inc. (IMS), formerly Specialty Reports, Inc., offers mobile application development, sales, marketing and support, and Vehicle Title History Reports.

Sparta Commercial Services, Inc. (OTCMKTS:SRCO) Recent Trading Information

Sparta Commercial Services, Inc. (OTCMKTS:SRCO) closed its last trading session 00.00000 at 0.00170 with 300,533 shares trading hands.

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