Coach Kim Anderson, who was hired in April, announced their suspensions Tuesday night.
"We have high standards for the conduct of our student-athletes and expect much more from them as members of our program," Anderson said in a statement.
According to a police report obtained by the Columbia Daily Tribune, three men were "jumped" by three to four men on a city street. One of the alleged victims, 21, reportedly was on the ground while being assaulted by the suspects. A second alleged victim said he noticed one of the suspects dropped his wallet during the assault. The Tribune reported that the wallet belonged to Gant.
Gant, Allen and a third suspect were stopped by police and identified by witnesses, according to the Tribune, then arrested on the misdemeanor charges. Gant and Allen were reportedly both released on a signature summons.
Gant, a 6-foot-8 forward from Springfield, Georgia, who was the state's 2014 Mr. Basketball, originally committed to the Tigers under former coach Frank Haith. He was considered a bit of a coup when he remained at Missouri after Anderson was hired in April.
Allen, a 6-7 forward from Dallas, signed the week after Anderson was hired.
This the second major disciplinary action Anderson has taken in as many months. He dismissed sophomore Torren Jones last month for an undisclosed violation of team rules.