FanDuel Wins Appeal of Shareholder Suit Over Flutter Merger

Fantasy sports site FanDuel won its appeal in a New York case brought by former founders, early investors and employees who claimed they were cheated out of the proceeds of its 2018 merger with Irish bookmaker Flutter Entertainment Plc.

A state appeals court in Manhattan said Thursday that the FanDuel shareholders, led by Nigel Eccles, the site’s co-founder and first CEO, failed to make a valid legal claim against the company under the law of Scotland, where FanDuel is incorporated, and ordered the claims dismissed. A five-judge panel of the court said that under Scottish law, directors have fiduciary ...