Latest news with #BergerMontague
USA Today
3 days ago
- Business
- USA Today
New UFC antitrust lawsuit alleges all fighters harmed by 'UFC's scheme' to control MMA
New UFC antitrust lawsuit alleges all fighters harmed by 'UFC's scheme' to control MMA Phil Davis, the plaintiff in the lawsuit, said he's "proud to stand up for professional MMA fighters to unlock the UFC's stranglehold on the entire sport." The UFC is facing a new antitrust class-action lawsuit that argues the promotion's monosopsony powers financially harm all professional MMA fighters – not just those under contract with the UFC – and calls for an end to "the UFC's scheme." Berger Montague, the lawfirm that secured a $375 million settlement against the UFC in February, filed the lawsuit Thursday in the U.S. District Court of Nevada, with former UFC and current PFL fighter Phil Davis named as the plaintiff. Zuffa LLC, TKO Group Holdings, which owns the UFC, and Endeavor Group Holdings are listed as the defendants. Unlike the Le v. Zuffa lawsuit that was settled in February, the Davis lawsuit seeks to be certified with all-non UFC fighters represented and does not seek monetary damages. In a written statement, Berger Montague said it seeks an injunction to prevent the UFC "from continuing its allegedly illegal scheme" and aims to "create conditions for free and fair competition among professional MMA promotions which, in turn, would bolster their careers and pay of professional MMA fighters across the sport." "I am proud to stand up for professional MMA fighters to unlock the UFC's stranglehold on the entire sport," Davis said in a statement. According to the lawsuit, "the UFC's scheme impairs professional MMA promotions like PFL in their ability to attract a critical mass of top-level MMA fighters necessary to compete with the UFC at the top tier of the sport of professional MMA, and otherwise substanstially forecloses competition in the markets relevant to this case. The UFC's scheme further restrains top-level fighters such as Mr. Davis from applying their trade by preventing these fighters from competing for titles in a free and unfettered market. As a result of the UFC's scheme, rival MMA promotions have been foreclosed and, as a result, would-be top-level MMA fighters at PFL and other non-UFC MMA promotions have had their careers impaired and their pay suppressed below the compensation that would prevail in a more competitive market." The lawsuit seeks to eliminate an array of restrictive clauses from UFC contracts and requests that fighters have the ability to terminate their contracts without penalty after one year. "The suit alleges that the UFC impairs the ability of would-be UFC competitors to attract a critical mass of top-level MMA fighters necessary to compete with the UFC at the top tier of the sport," Eric Cramer, lead attorney for Berger Montague, said in a statement. "We intend to prove that the UFC engaged in a predatory scheme to undermine would-be competitors to the UFC, which the suit claims had the effect of maintaining and enhancing the UFC's dominance, and thereby impairing the careers and pay not just of the UFC's own fighters, but also of professional MMA fighters like Mr. Davis competing for MMA promotions across the MMA industry." The Le v. Zuffa case covered UFC fighters who competed between 2010 to 2017. While that was still unfolding another lawsuit, Johnson v. Zuffa, representing fighters from 2017 to present day was filed and is still ongoing. The Davis lawsuit comes on the heels of another filed by former UFC light heavyweight Misha Cirkunov to represent fighters who have signed the most recent and restrictive UFC contracts.
Yahoo
3 days ago
- Business
- Yahoo
New UFC antitrust lawsuit alleges all fighters harmed by 'UFC's scheme' to control MMA
The UFC is facing a new antitrust class-action lawsuit that argues the promotion's monosopsony powers financially harm all professional MMA fighters – not just those under contract with the UFC – and calls for an end to "the UFC's scheme." Berger Montague, the lawfirm that secured a $375 million settlement against the UFC in February, filed the lawsuit Thursday in the U.S. District Court of Nevada, with former UFC and current PFL fighter Phil Davis named as the plaintiff. Zuffa LLC, TKO Group Holdings, which owns the UFC, and Endeavor Group Holdings are listed as the defendants. Unlike the Le v. Zuffa lawsuit that was settled in February, the Davis lawsuit seeks to be certified with all-non UFC fighters represented and does not seek monetary damages. In a written statement, Berger Montague said it seeks an injunction to prevent the UFC "from continuing its allegedly illegal scheme" and aims to "create conditions for free and fair competition among professional MMA promotions which, in turn, would bolster their careers and pay of professional MMA fighters across the sport." "I am proud to stand up for professional MMA fighters to unlock the UFC's stranglehold on the entire sport," Davis said in a statement. According to the lawsuit, "the UFC's scheme impairs professional MMA promotions like PFL in their ability to attract a critical mass of top-level MMA fighters necessary to compete with the UFC at the top tier of the sport of professional MMA, and otherwise substanstially forecloses competition in the markets relevant to this case. The UFC's scheme further restrains top-level fighters such as Mr. Davis from applying their trade by preventing these fighters from competing for titles in a free and unfettered market. As a result of the UFC's scheme, rival MMA promotions have been foreclosed and, as a result, would-be top-level MMA fighters at PFL and other non-UFC MMA promotions have had their careers impaired and their pay suppressed below the compensation that would prevail in a more competitive market." The lawsuit seeks to eliminate an array of restrictive clauses from UFC contracts and requests that fighters have the ability to terminate their contracts without penalty after one year. "The suit alleges that the UFC impairs the ability of would-be UFC competitors to attract a critical mass of top-level MMA fighters necessary to compete with the UFC at the top tier of the sport," Eric Cramer, lead attorney for Berger Montague, said in a statement. "We intend to prove that the UFC engaged in a predatory scheme to undermine would-be competitors to the UFC, which the suit claims had the effect of maintaining and enhancing the UFC's dominance, and thereby impairing the careers and pay not just of the UFC's own fighters, but also of professional MMA fighters like Mr. Davis competing for MMA promotions across the MMA industry." The Le v. Zuffa case covered UFC fighters who competed between 2010 to 2017. While that was still unfolding another lawsuit, Johnson v. Zuffa, representing fighters from 2017 to present day was filed and is still ongoing. The Davis lawsuit comes on the heels of another filed by former UFC light heavyweight Misha Cirkunov to represent fighters who have signed the most recent and restrictive UFC contracts. This article originally appeared on MMA Junkie: New UFC antitrust lawsuit aims to end 'scheme' against all fighters
Associated Press
3 days ago
- Business
- Associated Press
NYSE: CIVI DEADLINE REMINDER: Berger Montague Reminds Civitas Resources (CIVI) Investors of Important Class Action Lawsuit Deadline
Philadelphia, Pennsylvania--(Newsfile Corp. - May 30, 2025) - Berger Montague PC advises investors that a securities class action lawsuit has been filed against Civitas Resources, Inc. ('Civitas' or the 'Company') (NYSE: CIVI) on behalf of purchasers of Civitas securities between February 27, 2024 through February 24, 2025, inclusive (the 'Class Period'). Investor Deadline: Investors who purchased or acquired Civitas securities during the Class Period may, no later than JULY 1, 2025 , seek to be appointed as a lead plaintiff representative of the class. To learn your rights,CLICK HERE. Headquartered in Denver, Civitas is a crude oil and natural gas company. On February 24, 2025, Civitas announced its Q4 and full-year 2024 financial results, which included revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78 for the quarter, missing consensus estimates by $0.21 per share. In addition, Civitas reported net income of $151.1 million, or $1.57 per share, compared with $302.9 million, or $3.23 per share, in the year-ago quarter. Also on February 24, Civitas issued a press release outlining the Company's 2025 outlook, which noted that, compared to Q4 2024, 'lower volumes are primarily driven by the DJ Basin, due to natural declines following peak production in the fourth quarter.' In addition, Civitas announced a 10% reduction in its workforce across all levels. Finally, the Company announced the termination of its Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly. On this news, Civitas's stock price fell $8.95 per share, or 18%, to close at $40.35 per share on February 25, 2025. To learn your rights or for more information,CLICK HEREor please contact Berger Montague: Andrew Abramowitz at[email protected]or (215) 875-3015, or Peter Hamner at[email protected]. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member. Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. Contact: Andrew Abramowitz, Senior Counsel Berger Montague (215) 875-3015 [email protected] Peter Hamner Berger Montague PC [email protected] To view the source version of this press release, please visit
Associated Press
3 days ago
- Business
- Associated Press
CLASS ACTION NOTICE: Berger Montague Advises Organon & Co. (NYSE: OGN) Investors to Inquire About a Securities Fraud Class Action
PHILADELPHIA, May 30, 2025 (GLOBE NEWSWIRE) -- Berger Montague PC advises investors that a securities class action lawsuit has been filed against Organon & Co. ('Organon' or the 'Company') (NYSE: OGN) on behalf of purchasers of Organon securities between October 31, 2024 through April 30, 2025, inclusive (the 'Class Period'). Investor Deadline: Investors who purchased or acquired Organon securities during the Class Period may, no later than JULY 22, 2025 , seek to be appointed as a lead plaintiff representative of the learn your rights,CLICK HERE. Organon, headquartered in Jersey City, NJ, is a healthcare company focused on women's health. In October 2024, Organon acquired Dermavant, a biopharmaceutical company focused on dermatological conditions, for $1.2 billion. According to the lawsuit, despite the increase in debt from the Dermavant acquisition, the Company assured investors that it would maintain its dividend, which it described as its '#1 capital allocation priority.' On May 1, 2025, investors learned the truth when Organon announced that management reset the Company's dividend payout from $0.28 per share to $0.02 per share. Organon's senior management explained that the Company had 'reset our capital allocation priorities to accelerate progress towards deleveraging' and that 'returning capital to shareholders is right now, less of a priority.' On this news, the price of Organon stock declined $3.48 per share – approximately 27% – from a closing price of $12.93 per share on April 30, 2025 to a close of $9.45 per share on May 1, 2025. To learn your rights or for more information,CLICK HEREor please contact Berger Montague: Andrew Abramowitz at[email protected]or (215) 875-3015, or Peter Hamner at[email protected]. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member. Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. Contact: Andrew Abramowitz, Senior Counsel Berger Montague (215) 875-3015 [email protected] Peter Hamner Berger Montague PC [email protected]
Associated Press
5 days ago
- Business
- Associated Press
DEADLINE APPROACHING: Berger Montague Advises BigBear.ai Holdings (BBAI) Investors to Inquire About a Securities Fraud Class Action by June 10, 2025
Philadelphia, Pennsylvania--(Newsfile Corp. - May 28, 2025) - Berger Montague PC advises investors that a securities class action lawsuit has been filed against Holdings, Inc. ('BigBear' or the 'Company') (NYSE: BBAI) on behalf of purchasers of BigBear securities between March 31, 2022 through March 25, 2025, inclusive (the 'Class Period'). Investor Deadline: Investors who purchased or acquired BIGBEAR securities during the Class Period may, no later than JUNE 10, 2025 , seek to be appointed as a lead plaintiff representative of the class. To learn your rights,CLICK HERE. BigBear, headquartered in McLean, VA, is an AI-driven technology company offering national security, supply chain management, and digital identity and biometrics solutions. In June 2021, Holdings entered into a business combination with GigCapital4, Inc., a special purpose acquisition company. After the business combination was consummated on December 7, 2021, BigBear issued $200 million of convertible notes with a maturity date of December 15, 2026. The complaint alleges that, throughout the Class Period, Defendants failed to disclose that: (i) BigBear maintained deficient accounting review policies; (ii) the Company incorrectly determined that the conversion option within the 2026 Notes qualified for the derivative scope exception under Accounting Standards Codification ('ASC') 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (iii) thus, BigBear had improperly accounted for the 2026 Notes. To learn your rights or for more information,CLICK HEREor please contact Berger Montague: Andrew Abramowitz at[email protected]or (215) 875-3015, or Peter Hamner at[email protected]. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member. Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. Contact: Andrew Abramowitz, Senior Counsel Berger Montague (215) 875-3015 [email protected] Peter Hamner Berger Montague PC [email protected] To view the source version of this press release, please visit
