FanDuel Shareholder Suit Over Merger Revived by NY Court (2)

Former founders and shareholders of fantasy sports and gambling site FanDuel Ltd. will get another chance to hold the company accountable for allegedly cheating them out of proceeds from the site’s merger with an Irish sports betting site, the New York Court of Appeals ruled Thursday.

The high court agreed with a Manhattan appellate court that Scottish law applies to the shareholders’ claims against FanDuel, since the company was incorporated in Scotland. However, the appellate court wrongly dismissed the suit in 2022 given that the shareholders raised legitimate breach-of-contract claims, Judge Madeline Singas wrote in a unanimous opinion for the ...