WHY: Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of DraftKings Inc. (NASDAQ:DKNG) resulting from allegations that DraftKings may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased DraftKings securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2109.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: 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.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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