News UFC reaches $375 million settlement in Antitrust Lawsuit

[Cooliox]

The UFC reached a new settlement in one of its antitrust lawsuits Thursday and hopes a judge will green-light it.

TKO Group -- the UFC's parent company -- reached an agreement with the plaintiffs of Le v. Zuffa that will pay $375 million in the class action lawsuit in which former fighters allege the MMA promotion violated antitrust laws.

This amount exceeds the proposed $335 million settlement that Judge Richard Franklin Boulware II of the U.S. District Court of Nevada rejected in July.

via ESPN

 

[VinceArch]

Damn, I'd consider that a win.

 

[Cooliox]

FYI, Judge Richard Franklin rejected the initial settlement because he felt the amount was way too low for what could be won in court (over a billion USD)

Note: About 1200 people in the class-action lawsuit, so $375million would be about $300k each for 10 years worth of court cases.

 

[Domitian]

FYI, Judge Richard Franklin rejected the initial settlement because he felt the amount was way too low for what could be won in court (over a billion USD)

Note: About 1200 people in the class-action lawsuit, so $375million would be about $300k each for 10 years worth of court cases.

Yeah if 335 was way too low I don't see how 375 is that much better.

 

[AldoStillGoat]

375 not even close... judge probably wants at least double.

 

[shunyata]

Yeah if 335 was way too low I don't see how 375 is that much better.

Might be misremembering but I thought the judge threw out the first one because the lawyers were getting the majority of the settlement instead of 30%.

 

[tank666]

FYI, Judge Richard Franklin rejected the initial settlement because he felt the amount was way too low for what could be won in court (over a billion USD)

Note: About 1200 people in the class-action lawsuit, so $375million would be about $300k each for 10 years worth of court cases.

So the 1200 get roughly 300k in their accounts or is this excluding legal fees, taxes etc?

 

[Corrado Soprano]

What happened to all that talk about the fighters involved in this lawsuit wanting to make a difference for the future of the sport? Only to accept the first offer to line their own pockets. This is a win for the UFC.

 

[SuperNerd]

I'm not gonna pretend to know anything..

"over 1,200 fighters" was the reported number of fighters who were on the lawsuit.

That 335 million gets divided up pretty quickly. Probably a few hundred K at the end.

 

[Guy LeDouche]

Wait…Judge Richard Franklin?

 

[EndlessCritic]

TKO stock up 2% today (and 23% from the IPO a year ago).

Jeez those Endeavor dudes are financial wizards.

 

[VinceArch]

I'm not gonna pretend to know anything..

"over 1,200 fighters" was the reported number of fighters who were on the lawsuit.

That 335 million gets divided up pretty quickly. Probably a few hundred K at the end.

Most likely but it's still more than I thought they'd win.

 

[BJJ4Tone]

Damn, I'd consider that a win.

And a common Dana L

 

[VinceArch]

And a common Dana L

He must legit feel some twisted happiness inside when every single fighter on the prelims gets a finish and then begs him for a bonus.

 

[LeBron]

Big bad Dana and the UFC are scared to go to trial? Pussies

 

[DapperDave]

It's the same, right?

I haven't seen any news about any criminal investigation or indictment. But maybe that's only because UFC didn't break any laws?

If they didn't break any laws, then I guess they are settling now as some sort of gesture to adults who signed contracts and then started whining 20 years after the fact?

Dunno.

Other than the shermarxist clan, it doesn't seem like very many people even care.

 

[Only Here for Attachments]

Boo, I wanted this to go to a jury trial! Discovery would've been delicious. Oh well.

 

[Kyojiro Kagenuma]

Wait…Judge Richard Franklin?

Right? Thought the Same thing

 

[FrankDux]

 

[blaseblase]

Still way too low. If Cung made the decision he's an idiot for settling.