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The suit, filed by previous UFC combatants, alleged the MMA producer violated antitrust laws.
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According to Variety, former UFC fighters allege that the MMA producer broke antitrust laws, and TKO Group Holdings, the parent firm of UFC, has agreed to pay$ 335 million to sit two class-action claims.
In five associated class-action lawsuits filed between December 2014 and March 2015, which were consolidated into a single motion in June 2015, Zuffa, the president object that owned and operated UFC, was the plaintiff ( Lee et al. v. Zuffa ). An extra complaint, Johnson et cetera. v. Zuffa, was filed in 2021.
TKO and TKO reached an agreement on March 13 to settle all promises that were brought in both group action claims for a total of$ 335 million to be paid in installments over a day, the firm disclosed in an SEC filing on Wednesday. TKO stated that the terms may be memorialized in a lengthy contract and then submitted to the judge for approval. It added that it anticipates that the settlement amount will be deductible for tax reasons.
By denying UFC fighters the money they were entitled to receive and putting additional MMA sponsors in harm’s way, the claims claimed Zuffa allegedly violated antitrust regulations. In December 2014, Cung Le, Nate Quarry, and Jon Fitch, the first complaint against Zuffa was filed in federal court in California. Later, Brandon Vera, Luis Javier Vazquez, and Kyle Kingsbury followed. Kajan Johnson and C. B. Dollaway filed a presented class-action antitrust lawsuit against Zuffa and Endeavor on June 23, 2021, alleging that UFC carried out improper antitrust actions.
Through the Endeavor-led acquisition of UFC and WWE, TKO Group was established next month. Endearment still holds a lot stake in TKO.
Individually, TKO disclosed that it paid$ 20 million to live a 2022 lawsuit brought by MLW Media alleging that WWE had harmed MLW’s contractual relationship with some media platforms and engaged in another unjust and antitrust business practices in its 10- K processing on February 27. The case was dismissed with discrimination on Dec. 26, per the 10- K processing.
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