An investor, who purchased shares of Alliance MMA Inc (NASDAQ:AMMA), filed a lawsuit over alleged violations of Federal Securities Laws by Alliance MMA.
Investors who purchased shares of Alliance MMA Inc (NASDAQ:AMMA) have certain options and for certain investors are short and strict deadlines running. Deadline: June 16, 2017. NASDAQ:AMMA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Alliance MMA Inc (NASDAQ:AMMA) securities pursuant and/or traceable to Alliance MMA’s initial public offering on or about October 6, 2016, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that the defendants in connection with Alliance MMA’s initial public offering made allegedly false and/or misleading statements and/or failed to disclose thatthe condensed consolidated financial statements for the three months ended June 30, 2016 could not be relied upon because of an error in recognizing as compensation transfers of common stock by an affiliate of Alliance MMA to individuals who were at the time of transfer, or subsequently became, officers, directors or consultants of Alliance MMA, that the condensed consolidated financial statements for the six months ended June 30, 2016 could not be relied upon because of an error in recognizing as compensation transfers of common stock by an affiliate of Alliance MMA to individuals who were at the time of transfer, or subsequently became, officers, directors or consultants of Alliance MMA, and that as a result, defendants’ statements about Alliance MMA’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
New York based Alliance MMA, Inc. is a mixed martial arts organization offering the premier developmental league for mixed martial arts (MMA) fighters to advance to the sport’s highest level of professional competition.
On March 31, 2017, Alliance MMA Inc announced that it would be unable to timely file its Form 10-K for the period ended December 31, 2016 due to efforts to resolve certain matters relating to non-cash compensation expenses incurred prior to its initial public offering on September 30, 2016.
On April 12, 2017, Alliance MMA Inc revealed that its previously issued condensed consolidated financial statements for the nine months ended September 30, 2016, for the quarter ended September 30, 2016 and for the three and six months ended June 30, 2016 should no longer be relied upon because of an error in recognizing as compensation transfers of common stock by an affiliate of Alliance MMA Inc to individuals who were at the time of transfer, or subsequently became, officers, directors or consultants of Alliance MMA Inc .
Those who purchased NASDAQ:AMMA shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com