Item 8.01 Other Events

On January 13, 2020, the court in the derivative action IsZo Capital L.P. derivatively and on behalf of AmBase Corporation v. Richard A. Bianco, et al., Index No. 650812/2018 (the "Derivative Action") entered an order discontinuing the Derivative Action.

On December 30, 2019, the plaintiff in the derivative action IsZo Capital L.P. derivatively and on behalf of AmBase Corporation v. Richard A. Bianco, et al., Index No. 650812/2018 (the "Derivative Action") sold all of its shares of stock in the Company and thereby lost standing to continue prosecuting the IsZo Capital L.P. Action. The Court entered an Order on January 10, 2020, which was filed with the Court Clerk on January 13, 2020, dismissing the IsZo Capital L.P. Action in its entirety. Defendants filed Notice of Entry of the Order on January 13, 2020. The IsZo Capital L.P. Action is therefore concluded.

For further information see Note 9 to the Company's Unaudited Condensed Consolidated Financial Statements in the Company's Quarterly Report on Form 10-Q for the nine months ended September 30, 2019.

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