Allied Gaming Cleared To Proceed With Amended Claims

(RTTNews) - Allied Gaming & Entertainment Inc. (AGAE) on Monday said a U.S. federal court has granted the company permission to proceed with amended claims in its litigation against Knighted Pastures, LLC and related parties.

The U.S. District Court for the Central District of California approved Allied's unopposed motion to amend its complaint and denied as moot all pending motions to dismiss previously filed by the defendants.

The court also granted Allied's unopposed request to modify a prior preliminary injunction.

The modification lifts provisions that had temporarily restricted the holding of a board election and required compliance with certain external orders, citing the end of the defendants' proxy contest.

All other aspects of the injunction remain in effect until further court order.

On Friday, Allied Gaming closed trading 3.70% lesser at $0.3411 on the Nasdaq.