LOS ANGELES, Jun 15, 2021--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of DraftKings Inc. ("DraftKings" or the "Company") (NASDAQ: DKNG) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On June 15, 2021, before the market opened, Hindenburg Research published a report calling DraftKings "a $21 billion SPAC betting it can hide its black market operations." The report cited concerns over its merger with SBTech, a Bulgaria-based gaming technology company that allegedly deals in black market gaming, money laundering, and organized crime. Hindenburg Research estimated that 50% of SBTech’s revenue comes from markets where gambling is banned.
On this news, the Company’s stock price fell sharply during intraday trading on June 15, 2021.
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If you purchased DraftKings securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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