NEW YORK, NY / ACCESSWIRE / July 21, 2021 / Labaton Sucharow LLP, a nationally ranked and award-winning shareholder rights law firm, announces that a lawsuit has been filed against DraftKings Inc. ('DraftKings' or the 'Company') (NASDAQ:DKNG). Investors who purchased or otherwise acquired DraftKings securities between December 23, 2019, and June 15, 2021, both dates inclusive, (the ‘Class Period') are encouraged to contact the firm. If you wish to serve as lead plaintiff, you must move no later than August 31, 2021.
On June 15, 2021, Hindenburg Research published a report alleging the online betting company DraftKing's 2020 three-way merger with Bulgaria-based SBTech has opened the Company up to exposure linked to black-market gaming and money laundering. In a research note, Hindenburg Research called DraftKings 'a $21 billion SPAC betting it can hide its black market operations' and also unveiled a short position in the online gaming group. Following the release of the Hindenberg report, DraftKings shares fell by more than 5% in intraday trading.
The class action, filed in the United States District Court for the Southern District of New York and docketed under 21-cv-05739, asserts violations of the federal securities laws and pursues remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the ‘Exchange Act') and Rule 10b-5 promulgated thereunder against the Company and certain of its top officials.
If you currently own stock or options in DraftKings, contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at [email protected] to receive additional information and protect your investments free of charge.
About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.
CONTACT:
David J. Schwartz
(800) 321-0476
[email protected]
SOURCE: Labaton Sucharow LLP