Allied Gaming & Entertainment AGAE Acknowledges Ourgame Legal Investigations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Businesswire
- Legal Investigation Awareness: AGAE acknowledges the public disclosure from Ourgame regarding legal actions involving former CEO Frank Ng, indicating the company's serious approach to legal compliance, which may impact its reputation and shareholder confidence.
- Internal Review Commitment: AGAE confirms it will investigate matters relevant to Ng's tenure as CEO, particularly during the construction of the Las Vegas esports arena, ensuring adherence to governance standards and legal compliance.
- Transparency and Governance: The company reiterates its commitment to strong corporate governance and transparency, aiming to protect shareholder interests and indicating a sense of responsibility towards its investors by promising updates when necessary.
- Ongoing Monitoring: AGAE will continue to monitor developments related to the investigations and legal proceedings, ensuring it stays informed through public and lawful channels to address any potential business impacts promptly.
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About AGAE
Allied Gaming & Entertainment, Inc. is a global experiential entertainment company. The Company is focused on providing gamers and concertgoers with experiences through assets, products and services. Its segments include E-sports, Casual mobile gaming, and Concerts. E-sports, provided through Allied Esports, including video game events and tournaments. Casual mobile gaming, provided through Z-Tech. Live concert promotion and event organizing are provided by Skyline. Its subsidiaries include Allied Esports International, Inc., which operates global competitive e-sports properties designed to connect players and fans via a network of connected arenas; and Esports Arena Las Vegas, LLC, which operates a flagship gaming arena located at the Luxor Hotel in Las Vegas, Nevada. It also owns an upper secondary education institution that provides enrolled students with a specialized vocational study while working toward a high school graduation qualification through a corresponding high school.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
