Another result with Layn Phillips and Clay Cogman mediating for Phillips ADR:

Article originally published here: https://www.espn.com/mma/story/_/id/39772171/ufc-plaintiffs-reach-335m-settlement-class-action-suit

TKO Holdings, the parent company for the UFC, has reached a $335 million settlement in two class action antitrust lawsuits filed by fighters seeking better pay.

The settlement was agreed to March 13, a little more than a month before a trial was set to begin in the U.S. District Court of the District of Nevada on April 15, according to a U.S. Securities and Exchange Commission filing Wednesday.

In their lawsuits, the plaintiffs had alleged the UFC was an illegal monopsony that used anti-competitive practices to suppress fighter wages and stifle rival promotions. The lawsuits, one of which represented more than 1,200 individuals, spanned fighters who competed in the UFC from Dec. 16, 2010, to June 30, 2017, and from July 1, 2017 to 2021. The plaintiffs had initially sought up to $1.6 billion in damages.

“We are pleased to have reached an agreement to settle all claims asserted in both the [Cung] Le and [Kajan] Johnson class action lawsuits, bringing litigation to a close and benefiting all parties,” a UFC spokesman said in a statement to ESPN. “The final terms of the settlement will be submitted to the court for approval.”

The plaintiffs also released a statement on X, writing, in part:

“We are pleased with the settlement and will disclose more when we file with the Court in 45-60 days.”