DraftKings Inc. was hit with a shareholder suit for allegedly allowing a sports betting technology company it acquired to continue illegal operations in several Asian countries.
The fantasy sports company’s directors and senior executives failed to rein in allegedly illicit overseas operations by SBTech (Global) Ltd., despite “SBTech’s long and ongoing record of operating unlawfully in markets where online gambling is restricted,” according the complaint filed Oct. 8 in the U.S. District Court for the Southern District of New York.
DraftKings and blank check company Diamond Eagle Acquisition Corp. acquired SBTech, which provides sports betting technology and services, in a ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.