A press conference will be held today in San Jose, CA detailing a UFC class-action lawsuit. According to a story broken by Bloody Elbow, a class-action lawsuit is to be filed against the UFC by fighters. The report claims that the suit will be based on accusations that the UFC has violated antitrust laws by abusing market power to cripple the free market.
At 1 p.m. PT (4 p.m. ET), an announcement will be made at a press conference announcing the legal action by MMA professionals against the UFC. The plantiffs’ names will be released at the press conference as well as other details on the case. The Bloody Elbow report also confirmed through it’s sources that the recent announcement of the Reebok sponsorship deal appears to have made its way into the suit. The manager of one high profile fighter has stated that the plaintiffs are seeking damages for potentially hundreds of millions of dollars due to reduced fight purses, video games rights fees and other various other sources of income.
In 2012, The FTC lead an investigation into Zuffa’s business practice when the organization purchased Strikeforce. As reported by MMAJunkie, the investigation attempted to determine whether the UFC violated section 7 of the Clayton Act or section 5 of the Federal Trade Commission Act. The Federal Trade Commission took no action, but did not rule out future action.
Again, no names of potential signatories have been released, but the report claims that notable fighters and personalities are allegedly involved in the case. Scifighting will report on the press conference as the story develops.