NEW YORK, June 15, 2021 (GLOBE NEWSWIRE) -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of DraftKings Inc. ("DraftKings" or the "Company") (NASDAQ: DKNG) resulting from allegations that DraftKings might have issued misleading information to the investing public.
If you purchased DraftKings securities, and/or would like to discuss your legal rights and options please visit DraftKings Shareholder Investigation or contact Joseph R. Seidman, Jr. toll free at (877) 779-1414 or Seidman@bernlieb.com.
On June 15, 2021, before the market opened, Hindenburg Research published a report titled “DraftKings: A $21 Billion SPAC Betting It Can Hide Its Black Market Operations.” The report alleges that one of the companies that was part of the three-way merger that took DraftKings public, SBTech, exposed DraftKings and their investors to black-market gaming, money laundering and organized crime. Hindenburg Research claimed that it had “conversations with multiple former employees, […] review[ed] SEC & international filings, and inspect[ed] back-end infrastructure at illicit international gambling websites[.]” Based on this information, the report concluded with the opinion that “DraftKings has systematically skirted the law and taken elaborate steps to obfuscate its black market operations.”
On this news, the Company’s stock price opened on June 15, 2021 at $44.95 per share, down $5.67, or 11%, from its closing price of $50.62 per share on June 14, 2021.
If you purchased DraftKings securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/draftkingsinc-dkng-shareholder-class-action-lawsuit-fraud-stock-406/apply/ or contact Joseph R. Seidman, Jr. toll free at (877) 779-1414 or Seidman@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Joseph Seidman, Jr.
Bernstein Liebhard LLP