Alliance MMA sued for securities law violations

[Wild]

Alliance MMA, the organization touting itself as “the only mixed martial arts promotion company that is publicly-traded” with industry-name directors Renzo Gracie and Burt Watson, was sued for securities law violations in a class-action lawsuit filed in New Jersey Federal Court today. CEO Paul Danner and CFO John Price are also listed as defendants.

Alliance went public on the NASDAQ stock exchange on Oct. 6, 2016 with an IPO offering price of $4.50 per share. As of this writing, Alliance was trading at $2.12, a 53% decline in value.

Last Wednesday, Alliance filed an 8-K with the Securities and Exchange Commission (SEC) stating that certain prior financial statements…


Lawsuit: Alliance MMA broke securities law

 

[The Sound of Violence]

Interesting. I wonder what this means for shows like CFFC going forward.

 

[nuraknu]

It doesn't immediately sound like they were trying to be shady to me. Really just sounds like they didn't know what they were doing.

 

[kneeblock]

Taking an MMA org public case study #1.

 

[GSPTrainingInAPool]

Well i don't know how much longer they can keep the moniker of being the only publicly traded MMA promo. Soon it could be back down 0.