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Sessa's appeal of ruling on Ashford Hospitality Prime board nominees denied

Sessa Capital (Master) LP's appeal to overturn a federal district court's ruling to block its slate of candidates for Ashford Hospitality Prime Inc.'s board has been denied.

The U.S. Court of Appeals for the Fifth Circuit rejected the appeal, calling it a "tactical litigation decision" by Sessa to seek remedies on appeal that it had affirmatively refused to pursue in the trial court, Ashford Prime said in a release.

The trial court had previously ruled that Sessa's nominees for the REIT's board were ineligible to stand for election and blocked the investor from submitting candidates at Ashford Hospitality Prime's annual meeting.

Ashford is represented by Cadwalader Wickersham & Taft LLP.