Company Retains Counsel To Dismiss Case
Company Website:
https://www.alliancemma.com/
NEW YORK -- (Business Wire)
Alliance
MMA, Inc. ("Alliance MMA" or the "Company") (NASDAQ:AMMA), a
professional mixed martial arts (MMA) company, announced today that a
shareholder has filed a lawsuit against the Company and two of its
current officers in the United States District Court for the District of
New Jersey, under the caption Shapiro v. Alliance MMA, Inc., No.
1:17-cv-2583 (D.N.J.). The lawsuit alleges violations of the federal
securities laws and purports to seek damages on behalf of a class of all
shareholders who purchased the Company’s common stock pursuant or
traceable to the Company’s initial public offering. The Company believes
that the lawsuit is without merit and intends to vigorously defend
against it. “Securities claims like this are often pursued by
opportunistic lawyers when there is a drop in stock price,” stated CEO
Paul K. Danner, III. “The law firm of King & Spalding LLP has been
engaged to help us fight back, and we plan to file a motion to dismiss
this lawsuit.”
About Alliance MMA, Inc.
Alliance MMA (NASDAQ: AMMA) is a professional mixed martial arts company
that brings together leading regional promotions. Alliance MMA's mission
is to identify and cultivate the next generation of fighters and
champions for advancement to the Ultimate Fighting Championship (UFC)
and other premier MMA promotions.
With some of the world’s leading MMA promotions under the Alliance MMA
umbrella, the organization aims eventually to host in excess of 125
events per year, showcasing more than 1,000 fighters. Alliance MMA is
also dedicated to generating live original sports media content,
attracting an international fan base, and securing major brand
sponsorship revenue for live MMA events, digital media, and Alliance MMA
fighters.
MMA is the world’s fastest growing sport with worldwide fans of
approximately 300 million according to sports marketing research firm
Repucom. MMA is a full contact sport that allows a wide range of
fighting techniques, including striking and grappling from various
martial arts and disciplines including Boxing, Wrestling, Brazilian Jiu
Jitsu, Karate and Muay Thai. Professional MMA fights are legal and
regulated by state athletic commissions in all 50 states.
Alliance MMA, Inc. was incorporated in 2015 for the purpose of acquiring
businesses that engage in the promotion of mixed martial arts (MMA)
events. In 2016, the Company completed an initial public offering that
culminated in a listing on the NASDAQ stock exchange. Alliance MMA is
the only mixed martial arts promotion company that is publicly-traded.
For more information visit, www.alliancemma.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws. These statements relate to
anticipated future events, future results of operations or future
financial performance. In some cases, you can identify forward-looking
statements by terminology such as “may,” “might,” “will,” “should,”
“intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,”
“believes,” “estimates,” “predicts,” “potential,” or “continue” or the
negative of these terms or other comparable terminology. Actual results
may differ materially from historical results or those indicated by
these forward-looking statements as a result of a variety of factors
including, but not limited to, those discussed under the heading “Risk
Factors” in our registration statement on Form S-1 (Registration No.
333-213166) declared effective by the Securities and Exchange Commission
on September 2, 2016. Alliance MMA encourages you to review other
factors that may affect its future results in Alliance MMA’s
registration statement and in its other filings with the Securities and
Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170421005868/en/
Contacts:
Alliance MMA, Inc.
James Platek, 212-739-7825, x707
Director,
Investor Relations
or
Rubenstein Public Relations
Kristie
Galvani, 212-805-3005
kgalvani@rubensteinpr.com
Source: Alliance MMA, Inc.
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