Tuesday afternoon, current UFC fighter Cung Le, as well as former UFC fighters Jon Fitch and Nate Quarry, filed a class action lawsuit against ZUFFA LLC, the parent company of the UFC, in U.S. District Court for the Northern District of California.

Following a press conference to formally announce the lawsuit, the UFC released this statement:

"The UFC is aware of the action filed today but has not been served, nor has it had the opportunity to review the document. The UFC will vigorously defend itself and its business practices."

In short, the lawsuit accuses the UFC of "illegally maintaining monopoly and monopsony power by systematically eliminating competition from rival promoters, artificially suppressing fighters’ earnings from bouts and merchandising and marketing activities through restrictive contracting and other exclusionary practices," according to a press release.

For much more on the lawsuit, click here.