Allied Gaming & Entertainment, Inc. provides a positive update on its lawsuit in the US District Court for the Central District of California.
The court granted preliminary relief in favor of Allied in its Section 13(d) claim against Knighted Pastures and Roy Choi.
The court found that Allied demonstrated it is likely to succeed on the merits of its claims against the defendants.
Preliminary Relief Granted
The court issued preliminary relief enjoining the vote of directors at Allied's annual meeting on August 4, 2025.
Allegations Against Knighted Group
Allied's lawsuit accuses Knighted Group of engaging in wrongful conduct to amass large quantities of the company's stock without disclosure.
Positive Court Recognition
The court acknowledged the impact of the Knighted Group's actions on Allied's stockholders and granted relief in Allied's favor.
- The court's decision to preliminarily enjoin the holding of the Board of Directors election shows the seriousness of the allegations against the Knighted Group.
- Allied's strong stance in the lawsuit reflects its commitment to protecting the rights of its stockholders and maintaining corporate governance integrity.
The positive update on the lawsuit against Knighted Pastures and Roy Choi demonstrates Allied's dedication to upholding transparency and accountability in corporate dealings. The court's decision reinforces Allied's position in seeking justice for its stockholders.