The United States District Court for the Central District of California issued an order regarding Allied Gaming & Entertainment, Inc.'s (AGAE) combined 2024/2025 Annual Meeting of Stockholders. The court mandated that the Annual Meeting proceed as planned on August 4, 2025.
However, the court also issued an injunction preventing any vote regarding changes to the composition of Allied’s Board of Directors. This includes director nominees from both AGAE and dissident shareholder Knighted Pastures LLC, as well as Knighted’s proposal to remove Mr. Yangyang Li from the board.
All other proposals not related to board composition will continue to be voted on at the Annual Meeting. This ruling temporarily freezes the board's composition, preventing either the company or Knighted from immediately altering the board's makeup amidst their ongoing legal and proxy battles.
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