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Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) announced Thursday that it has regained compliance with Nasdaq Listing Rule 5620(a) following a decision by the Nasdaq Hearings Panel on September 2, 2025. The rule requires listed companies to hold an annual meeting of shareholders within twelve months of the end of their fiscal year.
According to a press release statement, the company had previously disclosed on June 25 that the Nasdaq Stock Market staff had initiated delisting procedures due to non-compliance with this requirement. Allied Gaming & Entertainment appealed the decision and attended a hearing with the Nasdaq Hearings Panel, providing supplementary information as requested.
On August 4, the company held a combined annual meeting for 2024 and 2025 stockholders. After reviewing the company’s actions and the additional information, the Panel determined that Allied Gaming & Entertainment is now in compliance with Listing Rule 5620(a). The matter is considered closed.
Allied Gaming & Entertainment is incorporated in Delaware and is headquartered in New York. The company’s common stock trades on the NASDAQ under the symbol AGAE.
This information is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Allied Gaming & Entertainment Inc. has been granted preliminary relief by the United States District Court for the Central District of California in its lawsuit against Knighted Pastures, LLC. The court’s order, issued on August 12, enjoined the vote of directors at Allied’s annual meeting, supporting Allied’s claims under federal securities laws. In leadership changes, Allied Gaming announced the appointment of Yangyang (James) Li as the new CEO, while the current CEO, Yinghua Chen, will transition to a senior strategic role within the company. Allied Gaming is also facing a delisting notice from Nasdaq due to its failure to hold an annual shareholder meeting within the required timeframe and not filing its Q1 2025 Form 10-Q on time. The company has requested a hearing with a Nasdaq panel and has scheduled its combined 2024/2025 annual meeting for August 4, 2025. Additionally, Allied Gaming is involved in a legal dispute with Knighted Pastures over alleged securities violations, aiming to prevent misleading actions by the defendants. The company has received a notice from Knighted Pastures regarding the nomination of candidates for election to its Board of Directors, a move Allied strongly opposes.
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