Knighted Pastures Terminates Proxy Contest at Allied Gaming

Core Viewpoint - Knighted Pastures has withdrawn its nominations for the Board of Allied Gaming due to a court ruling that prevents changes to the Board's composition, which has made continuing the proxy contest unfeasible [1][2]. Group 1: Legal Developments - The United States District Court for the Central District of California issued a preliminary injunction that halts the election of six directors to Allied Gaming's Board, based on claims that Knighted Pastures is part of an undisclosed group with other shareholders [1]. - Knighted Pastures has appealed the District Court Order but has decided to abandon the proxy contest due to the high costs associated with the lawsuit and the delay in holding a shareholder vote [2]. Group 2: Company Actions and Statements - Knighted Pastures has donated its shares to multiple charities as part of its decision to step back from its investment in Allied Gaming [2]. - The Managing Member of Knighted Pastures, Roy Choi, stated that the company has previously succeeded in two lawsuits that preserved shareholder value by preventing Allied Gaming from executing unfair share issuances [2].