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Alliance MMA sued for securities law violations

Discussion in 'Cageside - MMA Discussion' started by Wild, Apr 18, 2017 at 5:52 AM.

  1. Wild

    Wild TMMAC's most handsome Admin
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    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
     
    • Informative Informative x 3
  2. The Sound of Violence

    The Sound of Violence Active Member

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    Interesting. I wonder what this means for shows like CFFC going forward.
     
    • Agree Agree x 1
  3. nuraknu

    nuraknu Well-Known Member

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    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.
     
    • Agree Agree x 2
  4. Kneeblock

    Kneeblock Sapere Aude

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    Taking an MMA org public case study #1.
     
    • Agree Agree x 2
  5. Cagesidelore

    Cagesidelore Man on the silver mountain

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    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.
     
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