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NASDAQ: DKNG Investor Notice: Lawsuit against directors filed

10-19-2021 03:04 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed by an investor in DraftKings Inc. (NASDAQ: DKNG) shares over alleged wrongdoing at DraftKings Inc.

A lawsuit was filed by an investor in DraftKings Inc. (NASDAQ: DKNG) shares over alleged wrongdoing at DraftKings Inc.

An investor in shares of DraftKings Inc. (NASDAQ: DKNG) filed a lawsuit against certain directors of DraftKings Inc. over alleged breaches of fiduciary duties.

Investors who purchased shares of DraftKings Inc. (NASDAQ: DKNG) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that certain officers and directors of DraftKings Inc. deceived investors in DraftKings Inc. (NASDAQ: DKNG) when they backed a three-way merger with a special purpose acquisition company (“SPAC”) and a company tied to organized crime.

The lawsuit against certain directors of DraffKings, Inc comes after a lawsuit was filed in July 2021 against DraftKings Inc. over alleged Securities Laws violations. The plaintiff in that lawsuit alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 23, 2019 and June 15, 2021, the Defendants made false and/or misleading statements and/or failed to disclose that SBTech had a history of unlawful operations, that accordingly, DraftKings’ merger with SBTech exposed the Company to dealings in black-market gaming, that the foregoing increased the Company’s regulatory and criminal risks with respect to these transactions, that as a result of all the foregoing, the Company’s revenues were, in part, derived from unlawful conduct and thus unsustainable, that accordingly, the benefits of the Business Combination were overstated, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.

Those who purchased shares of DraftKings Inc. (NASDAQ: DKNG) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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