MIke Tyson, Ric Flair Score Big Win In Court In $50 Mil Cannabis Biz Lawsuit

10-9 round for Mike Tyson and Ric Flair ... the sports icons scored a win in their legal battle with a cannabis company, TMZ Sports has learned.

A federal judge in Illinois refused to toss out the explosive RICO lawsuit filed by Tyson and Flair, among others, in December, in which they accused five people tied to Carma/Tyson 2.0 of screwing the two stars out of huge amounts of money.

Tyson and Flair claim two of the defendants, executives at Carma, treated the company like their own personal piggy bank, siphoning off more than $1 million, and using the cash for everything from private jet travel to yacht and home renovations.

Others were accused of receiving kickbacks on deals they negotiated, unbeknownst to Mike and Ric.

Defendants Chad Bronstein, Adam Wilks, Nicole Cosby, James Case, and Christopher Volo, who have strongly maintained their innocence, filed a joint motion asking that the case be dismissed for various reasons.

Ultimately, the judge wasn't buying their argument, ruling that the RICO lawsuit will proceed.

As you'd expect, Tyson 2.0 was happy with the judge's decision, with a rep for the company saying, "this ruling represents a significant development in our clients' pursuit of justice. Mike Tyson and his fellow plaintiffs have brought this case because they were victims of serious financial misconduct and a calculated betrayal of the obligations owed to them and their businesses."

"The defendants sought to have these claims dismissed before the case could proceed on its merits. The Court's decision allows the litigation to move forward, and we welcome that opportunity. Our clients are prepared to pursue the evidence, hold those responsible accountable, and seek the full measure of relief available under the law."

Tyson and Flair are seeking tens of millions of dollars for funds they say were taken, and for money they missed out on as a result of the deals they weren't looped in on.