On January 25, 2021, Cygnus Capital, Inc. commented on the lawsuit filed by Ashford Hospitality Trust, Inc.on January 19, 2021. Cygnus stated that the company is suing Cygnus in order to prevent the firm from nominating director candidates and running an election contest at the Company’s 2021 annual meeting of stockholders. Cygnus stated that it intends to fight the Company’s baseless lawsuit, which appears to represent a blatant entrenchment maneuver designed to disenfranchise Cygnus and insulate chairman Monty Bennett and his boardroom allies. Cygnus stated that it highlights the board appears to be wasting the Company’s finite resources on under-handed efforts to harm Cygnus and thwart a fair, open election contest. Cygnus noted that it will not be deterred by the Company’s low-road campaign and remains fully committed to offering stockholders the opportunity to vote for board change at the 2021 annual meeting.