Kessler Topaz Meltzer & Check, LLP Reminds DraftKings Inc. Shareholders of Securities Fraud Class Action Lawsuit
RADNOR, Pa., August 28, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP reminds investors that a class action lawsuit for securities fraud has been filed against DraftKings Inc. f / k / a Diamond Eagle Acquisition Corp. (NASDAQ: DKNG) (“DraftKings”) on behalf of those who hold DraftKings securities between. bought or acquired 23 December 2019 and June 15, 2021, including (the “Class Period”).
KTMC (PRNewsFoto / Kessler Topaz Meltzer & Check)
Deadline of the main plaintiff: August 31, 2021
Contact: James Maro, Esq. (484) 270-1453
Toll Free (844) 887-9500
DraftKings operates as a digital sports entertainment and games company in the United States. It operates in two segments, business-to-consumer and business-to-business (B2B). DraftKings was integrated into Nevada as DEAC NV Merger Corp., a wholly owned subsidiary of its predecessor DEAC, a special purpose vehicle for acquisition. on April 23, 2020, DEAC completed transactions contained in a Business Combination Agreement (the “Business Combination”) dated 22nd December 2019, as amended on April 7, 2020. In this regard, DraftKings acquired all of the issued and outstanding share capital of SBTech (Global) Limited (“SBTech”). SBTech is a full-service B2B turnkey technology provider with omni-channel sports betting solutions, trading services, and marketing and bonus tools that power popular sports betting and online gaming brands.
The lawsuit alleges that during the class action period, defendants made false and / or misleading information and / or failed to disclose: (1) SBTech had a history of illegal business; (2) accordingly, the merger of DraftKings with SBTech has suspended black market gaming; (3) the foregoing increased regulatory and criminal risks for DraftKings in relation to these Transactions; (4) As a result of all of this, DraftKings’ revenues come in part from illegal conduct and are therefore unsustainable; (5) accordingly, the merger benefits have been overstated; and (6) as a result, DraftKings’ public statements at all relevant times have been materially false and misleading.
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DraftKings investors can do so no later than August 31, 2021, seek to be appointed as lead class agent through Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in the conduct of the dispute. To be appointed as a lead plaintiff, the court must determine that the class plaintiff’s claim is typical of the claims of other class plaintiffs and that the class plaintiff is adequately representing the class action. Your ability to participate in a recovery will not be affected by whether or not you want to be the lead plaintiff.
Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country for securities fraud, fiduciary violations, and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, recovering billions of dollars on behalf of institutional and private investors The United States and all over the world. The firm represents investors, consumers and whistleblowers (individuals who report fraudulent practices to the government and participate in recovery of government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
Radnor, PA 19087
(844) 887-9500 (toll free)
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SOURCE Kessler Topas Meltzer & Check, LLP