The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased DraftKings Inc. f/k/a Diamond Eagle Acquisition Corp. (NASDAQ: DKNG) securities between December 23, 2019 and June 15, 2021.
According to the DraftKings Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(i) SBTech Global Limited (“SBTech”), a company acquired by DraftKings, had a history of unlawful operations; (ii) accordingly, DraftKings’ merger with SBTech exposed the Company to dealings in black-market gaming; (iii) the foregoing increased the Company’s regulatory and criminal risks with respect to these transactions; (iv) as a result of all the foregoing, the Company’s revenues were, in part, derived from unlawful conduct and thus unsustainable; (v) accordingly, the benefits of the Business Combination were overstated; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in DraftKings Inc. you have until August 31, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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