FERTITTAS' BATTLE OVER PRIDE CONTINUES

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FERTITTAS' BATTLE OVER PRIDE CONTINUES
Wednesday, February 06, 2008 - by MMAWeekly.com

Pride FC Worldwide Holdings, LLC on Friday filed a lawsuit against Dream Stage Entertainment, Inc.; Nobuyuki Sakakibara; and others (Dream Statge) claiming that they were defrauded into entering an agreement for “millions upon millions of dollars.”

Pride FC Worldwide is a company that was formed by Lorenzo and Frank Fertitta – the majority owners of Zuffa, LLC and the Ultimate Fighting Championship – to purchase the Pride brand name and related assets from Dream Stage Entertainment, Inc.

Because the Fertittas are involved in the gaming industry – they are part owners of Station Casinos – Dream Stage was supposed to go through a background check and drug testing to ensure compliance with the regulatory requirements of the Fertittas’ gaming license in Nevada.

The complaint filed in Clark County, Nev. claims that Dream Stage failed to cooperate with, submit to or pass such background checks leading to Pride FC Worldwide’s claim of being defrauded.