LiveXLive’s $100 million lawsuit against Austin McBroom officially made headlines at the end of July, and according to new details, things might not be looking good for the ACE Family patriarch.
To break it down: On July 21, event organizers Simply Greatness Productions (SGP), who were behind Social Gloves, filed a lawsuit against streaming partner LiveXLive, claiming that the company failed to turn over proceeds from the event.
McBroom isn’t technically affiliated with SGP — on paper — but, his company Ace Hat Collection does own the “Social Gloves” trademark.
A few days later on July 24, LiveXLive responded with a $100 million lawsuit of their own, and new details from the court documents seem to claim McBroom and SGP were “in chaos” from the start.
In order to avoid sifting through pages of legal documents, YouTuber Spencer Cornelia put out a video explaining the issues LiveXLive seems to have had with McBroom from practically the very beginning.
Cornelia, who’s covered this litigation saga since the first lawsuit was filed, doesn’t think things are looking too good for the social media star, based on LiveXLive’s counter suit.
According to documents from LiveXLive’s attorneys, SGP’s handling of the Social Gloves event was “in chaos” almost from the start, with SGP “scrambling” to locate a new venue just three months before the event after MGM backed out of the deal.
“Austin was saved by LiveXLive numerous times throughout the planning of this event,” Cornelia explained, before going on to quote LiveXLive’s lawyers saying, “The financial compensation promised to some of the fighters [by SGP] was senseless.”
Cornelia goes over practically every facet of this case, and what seems like every single jab LiveXLive’s lawyers included against SGP and McBroom, as well. We couldn’t begin to cover everything they talk about in this story without another 1000 words, but the video is definitely worth a full watch to see everything that happened behind the curtains of the Social Gloves event – at least according to one side.
We can’t predict how the ongoing court cases will play out, with LiveXLive suing McBroom, and McBroom suing LiveXLive. But we will update you with the latest details as they happen and the lawsuits play out.