Knighted Pastures, LLC announced that it has terminated its proxy contest against Allied Gaming & Entertainment Inc. (AGAE). The dissident shareholder stated it was withdrawing its nominations of six candidates for election to the Board of Allied Gaming and for related Board changes.
This decision follows a preliminary injunction order issued by the United States District Court for the Central District of California in August 2025, which prevented changes to the composition of Allied’s Board of Directors. The court had also indicated that AGAE was likely to succeed on the merits of its claims against Knighted Pastures for alleged securities law violations.
The termination of the proxy contest removes a significant source of corporate governance conflict and legal expenses for Allied Gaming & Entertainment. This development allows the company's management and board to refocus their efforts on executing strategic plans without the ongoing distraction and cost of a shareholder battle.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.