Volato Group Inc. is facing regulatory challenges after receiving a Warning Letter from NYSE Regulation for failing to comply with sections 301 and 713 of the NYSE American LLC Company Guide. The company issued 639,720 shares of Class A common stock without proper approvals, violating listing and stockholder approval requirements. This has led to a demand letter from Sunpeak Holdings Corporation, alleging that Volato is in default under their Settlement Agreement and in contempt of a court order. The company disputes these claims and plans to defend against them. Approximately $1.1 million in claims remain unresolved.
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