Allied Gaming & Entertainment Provides Update on Knighted Pastures Legal Proceedings
Litigation Update: Allied Gaming & Entertainment has provided an update on its litigation against Knighted Pastures and associated individuals, with the court indicating a likelihood of success for Allied's claims regarding the formation of a group under Section 13(d).
Shareholder Rights Plan: The court's findings have led the company's board to preliminarily determine that the Knighted Group triggered the company's shareholder rights plan, which was established on February 9, 2024.
Annual Meeting Proposal: The board intends to propose at the next annual meeting a confirmation of their preliminary determination regarding the rights plan and seek stockholder approval for related actions.
Consideration of Shareholder Views: The board's determination is preliminary, and they will consider shareholder opinions and professional advice before finalizing any proposal related to the rights plan at the annual meeting.
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Allied Gaming (AGAE) Court Update: Motion to Amend Complaint Granted
- Litigation Progress: The U.S. District Court for the Central District of California granted Allied Gaming's unopposed motion on January 5, 2026, allowing the company to amend its complaint against Knighted Pastures, facilitating a more efficient progression of the case.
- Preliminary Injunction Modification: The Court vacated provisions of the preliminary injunction that temporarily restricted board elections, indicating that these measures were no longer necessary as the defendants had ended their proxy contest, thus ensuring normal governance for the company.
- Procedural Development: The Court also denied all pending motions to dismiss filed by the defendants, further streamlining the issues before the Court and enhancing litigation efficiency, which positions Allied Gaming more favorably in its legal standing.
- Strategic Implications: Allied views this ruling as a significant procedural development, marking a clarification of the company's litigation posture and aiding in the protection of its rights in future legal battles.

Allied Gaming & Entertainment (AGAE) Acknowledges Legal Investigations Involving Former CEO Frank Ng
- Legal Investigation Awareness: AGAE acknowledges the legal actions and investigations involving former CEO Frank Ng, indicating the company's serious approach to legal matters, which could impact its reputation and future operations.
- Ongoing Monitoring Commitment: The company commits to closely monitoring the progress and outcomes of related investigations, ensuring timely updates to maintain transparency and bolster investor confidence.
- Internal Review Commitment: AGAE confirms it will review any potential issues connected to Ng's tenure, particularly regarding the construction and development phase of the Las Vegas esports arena, ensuring compliance and governance standards are upheld.
- Guidance from Legal Advisors: The review will be conducted in accordance with applicable laws and governance standards, guided by independent legal and professional advisers to ensure fairness and transparency in the review process.









