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    DKNG UPCOMING DEADLINE  137  0 Kommentare Investors With Substantial Losses Have Opportunity to Lead the DraftKings Inc. Class Action Lawsuit

    The DraftKings class action lawsuit charges DraftKings (NASDAQ: DKNG) and certain of DraftKings and Diamond Eagle Acquisition Corp.’s (“DEAC”) top executives with violations of the Securities Exchange Act of 1934 and seeks to represent purchasers of DraftKings securities between December 23, 2019 and June 15, 2021, inclusive (the “Class Period”). The DraftKings class action lawsuit (Rodriguez v. DraftKings Inc. f/k/a Diamond Eagle Acquisition Corp., No. 21-cv-05739) was commenced on July 2, 2021 in the Southern District of New York and is assigned to Judge Paul A. Engelmayer.

    If you suffered substantial losses and wish to serve as lead plaintiff of the DraftKings class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the DraftKings class action lawsuit must be filed with the court no later than August 31, 2021.

    CASE ALLEGATIONS: DraftKings was incorporated in Nevada as DEAC NV Merger Corp., a wholly owned subsidiary of its legal predecessor, DEAC, a special purpose acquisition company, or SPAC. On April 23, 2020, DEAC consummated transactions and, in connection therewith, DraftKings acquired all of the issued and outstanding share capital of SBTech (Global) Limited (“SBTech”). SBTech became a wholly owned subsidiary of DraftKings.

    The DraftKings class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) SBTech had a history of unlawful operations; (ii) accordingly, DraftKings’ merger with SBTech exposed DraftKings to dealings in black-market gaming; (iii) this increased DraftKings’ regulatory and criminal risks with respect to these transactions; (iv) as a result, DraftKings’ revenues were, in part, derived from unlawful conduct and thus unsustainable; (v) accordingly, the benefits of the SPAC merger were overstated; and (vi) consequently, DraftKings’ public statements were materially false and misleading at all relevant times.

    On June 15, 2021, Hindenburg Research published a report regarding DraftKings, alleging that DraftKings’ merger with SBTech exposed DraftKings to dealings in black-market gaming. Citing “conversations with multiple former employees, a review of [U.S. Securities and Exchange Commission and] international filings, and inspection of back-end infrastructure at illicit international gaming websites,” Hindenburg alleged that “SBTech has a long and ongoing record of operating in black markets,” estimating that 50% of SBTech’s revenue is from markets where gambling is banned. On this news, DraftKings’ stock price fell more than 4%, damaging investors.

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    DKNG UPCOMING DEADLINE Investors With Substantial Losses Have Opportunity to Lead the DraftKings Inc. Class Action Lawsuit The DraftKings class action lawsuit charges DraftKings (NASDAQ: DKNG) and certain of DraftKings and Diamond Eagle Acquisition Corp.’s (“DEAC”) top executives with violations of the Securities Exchange Act of 1934 and seeks to represent purchasers of …

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