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Alliance MMA settles shareholder legal dispute

Alliance MMA Inc. agreed to settle and resolve a stockholder class-action lawsuit initially filed in April 2017.

The suit was filed against the company, certain of its current and former officers and directors, and the underwriter in its initial public offering completed in October 2016, the company said March 13.

The class-action settlement is subject to District Court approval. If approved by the District Court, the settlement will result in the dismissal of all claims against the defendants in the litigation.

The settlement amount attributable to Alliance will be covered in full by its D&O insurer. Alliance has paid $137,761 in the form of legal fees.

Alliance MMA is a sports and media company that combines regional mixed martial arts promotions with event ticketing, media production and talent management services.