Securities
Aug. 15, 2025
Judge finds likely violation in Allied Gaming shareholder control bid
A federal judge granted Allied Gaming a partial injunction, finding it likely shareholder defendants illegally coordinated a takeover without proper SEC disclosure, potentially setting precedent under Section 13(d) securities law.
A judge in Los Angeles this week found an electronic sports company is likely to succeed on the merits of its claim that shareholder defendants unlawfully formed a group to take control of the company without properly disclosing it under federal securities law.
Led by Paul Hastings LLP partner Tim D. Reynolds, Allied Gaming & Entertainment obtained a preliminary injunction that allowed an upcoming shareholder's meeting to move forward but enjoined the parties from electing...
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