{"id":2456418,"date":"2026-06-12T14:51:12","date_gmt":"2026-06-12T14:51:12","guid":{"rendered":"https:\/\/celebrity.land\/en\/?p=2456418"},"modified":"2026-06-12T14:51:12","modified_gmt":"2026-06-12T14:51:12","slug":"xtreme-one-entertainment-granted-summary-judgment-court-orders-williamsburg-venture-holdings-to-return-6-6-million-shares-sold-in-alleged-fraudulent-transfer-of-xoni-stock","status":"publish","type":"post","link":"https:\/\/celebrity.land\/en\/xtreme-one-entertainment-granted-summary-judgment-court-orders-williamsburg-venture-holdings-to-return-6-6-million-shares-sold-in-alleged-fraudulent-transfer-of-xoni-stock\/","title":{"rendered":"Xtreme One Entertainment Granted Summary Judgment; Court Orders Williamsburg Venture Holdings to Return 6.6 Million Shares Sold in Alleged Fraudulent Transfer of $XONI Stock"},"content":{"rendered":"

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Order Requires Williamsburg to Repurchase Shares in the Open Market or Pay Restitution Equivalent to the Market Value of the Shares within 14 Days<\/strong><\/p>\n

GRAND RAPIDS, Mich., June 12, 2026 (GLOBE NEWSWIRE) — Xtreme One Entertainment, Inc. (OTCQB: XONI<\/a>) (\u201cXtreme One\u201d), a diversified media and live-event sports company, and parent company of Xtreme Fighting Championships (XFC), today announced it won a Summary Judgment for breach of contract, a key aspect of the Company and shareholder Plaintiffs\u2019 lawsuit alleging fraud, conversion, breach of contract, and wire fraud filed against investor and lender Williamsburg Venture Holdings, LLC (“WVH”) and its Managing Member Ronald Glenn.<\/p>\n

The Order, issued on June 11, 2026, by Kent County (Michigan) Circuit Court Judge Curt Benson, requires WVH to either purchase 6.6 million shares of Xtreme One stock in the open market and return the shares by June 25, 2026, or a subsequent Judgment will be entered requiring WVH to pay cash restitution equal to the market value of the 6.6 million shares at the closing stock price on June 25, 2026.<\/p>\n

\u201cThis is a decisive win for the Company and our shareholders, and a swift, eye-for-an-eye judgment on restitution,\u201d said Jeff Lambert, Chairman and CEO of Xtreme One Entertainment. \u201cWilliamsburg never paid for a single share, misrepresented its ownership of the stock to potential buyers, and then indiscriminately sold shares of XONI<\/a> at a fraction of their value. We\u2019re appreciative of the Court holding Mr. Glenn and Williamsburg accountable for breach of contract, and we look forward to pursuing additional awards, damages and fees on the remaining claims in upcoming arbitration and mediation.\u201d<\/p>\n

The broader lawsuit, filed by Plaintiffs Xtreme One Entertainment and shareholders Daniel Acciavatti and Thomas Humphries, alleges that WVH entered into a $10 million<\/money> equity purchase agreement with Xtreme One in January 2026. However, instead of funding the purchase of the XONI<\/a> shares as agreed, WVH allegedly induced Xtreme One to transfer the shares without paying for them and began immediately selling the stock at deeply discounted prices on the open market. The lawsuit alleges that this irregular trading was the cause of the rapid decline in the price of XONI stock, along with harm to the company\u2019s reputation and loss of investor goodwill.<\/p>\n

Sworn testimony in the case by Mr. Glenn, as part of the Preliminary Injunction and his court-ordered Criminal Contempt Show Cause Hearing for alleged perjury, confirmed that WVH sold 3 million shares of XONI stock at $0.003<\/money> per share, a small fraction of the $0.07<\/money> closing price at the end of that trading day, and WVH subsequently sold an additional 3.6 million shares at an average price of $.009 per share.<\/p>\n

\u201cThe rapid pace of this lawsuit spanning an immediate Temporary Restraining Order, a Show Cause Hearing for Criminal Contempt of Court, and a Summary Judgment for equitable and significant restitution underline the breadth and brazenness of this issue,\u201d Lambert said. \u201cYet despite the obvious distraction, the Xtreme One Board and team are undeterred and remain locked in on upcoming events and major moves for the company, our fighters, and our fans.\u201d<\/p>\n

About Xtreme One Entertainment, Inc.<\/strong>
Xtreme One Entertainment, Inc. (OTC: XONI) is a diversified holding company focused on media, entertainment, live sports, and event marketing. Through its wholly owned subsidiary, XFC Global, Inc., the company licenses the brands and IP of Xtreme Fighting Championships, which has delivered more than 50 professional, televised MMA events across the U.S. and Latin America since 2006. Since acquiring XFC in 2023, Xtreme One has produced seven nationally televised MMA events reaching millions of fans. XFC fights stream live on Fandango at Home, CDN Deportes, XFC\u2019s YouTube Channel, American Forces Network, and a growing list of global media platforms.\u00a0<\/p>\n

For more information, visit XtremeOne.com<\/a> or XFC.global<\/a>. Investors can access rewards, merchandise discounts, and VIP event opportunities through the Xtreme Shareholder Rewards Program at www.TickerPerks.com<\/a> or on the $XONI investor relations site.<\/p>\n

Contact:<\/strong>
Jeff Lambert, CEO
jlambert@xtremeone.com<\/a><\/p>\n

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\u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n

\u2018 Some details of this article were extracted from the following source www.stocktitan.net \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Rhea-AI Summary Analysis in progress… Loading… Loading translation… AI-generated analysis. Not financial advice. See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source \u00b7 opens Google […]<\/p>\n","protected":false},"author":2,"featured_media":2402179,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[482799,482797,482798,482796],"class_list":["post-2456418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment","tag-xoni-latest-news","tag-xoni-news","tag-xoni-stock","tag-xoni-stock-news"],"jetpack_featured_media_url":"https:\/\/celebrity.land\/en\/wp-content\/uploads\/2026\/05\/Xtreme-One-names-Jeff-Lambert-CEO-promotes-MMA-chiefs.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2456418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=2456418"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2456418\/revisions"}],"predecessor-version":[{"id":2456419,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2456418\/revisions\/2456419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media\/2402179"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2456418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2456418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2456418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}