Slightly old news but still interesting stuff.
U.S. District Judge Richard Boulware denied a preliminary approval for settlement in the UFC antitrust lawsuit, an agreement that would have seen the UFC pay out $335 million to current and former athletes.
Boulware denied the settlement conditions late Tuesday and is expected to elaborate on the decision at a later date. The lawsuit, which was first filed in 2014, will now move forward with a status conference in August and a tentative trial date -- which is almost certain to be pushed back -- of Oct. 28 in the District of Nevada.
The UFC issued a statement Wednesday and expressed disappointment in the decision.
"We obviously disagree with this ruling and believe it disregards the expertise of counsel from both sides, as well as that of an accomplished and expert mediator -- all of whom have decades of experience in antitrust case law," the UFC said in its statement. "It prevents the athletes from receiving what they have argued is in their best interest and unwinds an extensively negotiated settlement that, in the plaintiffs' counsel's own words, 'would far surpass the typical antitrust class action settlement' and 'is an excellent result for the Settlement Classes by all traditional measures.'"
Eric Cramer, an attorney for the plaintiffs, said the fighters in the case "respect the court's ruling" but "are keeping an open mind with respect to a potential new resolution."
"With the interests of our clients and the classes at the forefront, we are also open to reengaging with the UFC to see whether the parties could reach a settlement building off of the momentum achieved in the prior settlement, but working to satisfy the Court's expressed concerns with that resolution," Cramer said.
The judge had tipped his hand to this decision previously in court, stating he felt the settlement amount of $335 million seemed low. If the UFC were to lose the suit at trial, the company could face damages in the multibillions. Conversely, the athletes could receive nothing if they were to lose at trial. At the time a settlement was reached by the two parties in March, attorneys for both sides said they were pleased with the resolution.
The lawsuit alleges that the UFC has gained an unfair advantage in the mixed martial arts industry through years of anti-competitive tactics, and that the advantage has resulted in suppressed fighter wages. The UFC has defended itself by stating it has invested in the sport overall, as well as pointing out numerous other promotions over the past three decades as evidence of an equal playing field.
Judge denies preliminary UFC antitrust settlement
Re: Judge denies preliminary UFC antitrust settlement
I do have to add that the lawyer representing the fighters seems like such a fucking scumbag. He basically threw a fit because the judge blocked the settlement, which is slightly understandable, but he comes across like he just wants to get paid and gives zero shits about the people he’s representing.
The attorneys also admitted in court that sending this case to trial could result in a loss, which means the fighters involved in the case would receive nothing at all.
“The reality is the claim has little value,” Eric Cramer, an attorney for the fighters told the judge during a hearing about the proposed settlement. “They should take — they’d be better off both taking the money, getting the injunctive relief.
“The world where that doesn’t happen is not in that fighter’s interests because I would tell that fighter if they were in my office, ‘You’re likely to lose. You’re likely to get nothing.’”
https://www.mmafighting.com/2024/7/31/2 ... or-october
The attorneys also admitted in court that sending this case to trial could result in a loss, which means the fighters involved in the case would receive nothing at all.
“The reality is the claim has little value,” Eric Cramer, an attorney for the fighters told the judge during a hearing about the proposed settlement. “They should take — they’d be better off both taking the money, getting the injunctive relief.
“The world where that doesn’t happen is not in that fighter’s interests because I would tell that fighter if they were in my office, ‘You’re likely to lose. You’re likely to get nothing.’”
https://www.mmafighting.com/2024/7/31/2 ... or-october