The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Alliance MMA, Inc. (NASDAQ: AMMA) who purchased shares pursuant and/or traceable to the Company’s Stock Offering on or about October 6, 2016. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that (1) the condensed consolidated financial statements for the three months ended June 30, 2016 and 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 (2) 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.
Shareholders have until June 16, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.