DraftKings (DKNG) Stock Pops 13.5%: What Is DKNG Accused Of?

Over the past month, the company’s stock has been increased by almost $ 7. On August 26, the stock traded at $ 49.76. After 2 days, the cost rose to $ 51.09. In August the price was $ 48. After that, the cost of the runoff grew every day. As a result, in the middle of the month, the cost was $ 53.2. After 3 days, the price dropped to $ 51.46 and rose to $ 54.64. On August 19, the stock traded at $ 51.22. The current price is $ 56.48.
The Law Offices of Vincent Wong declared the initiation of a class action on behalf of investors who purchased DraftKings. Allegations include that the company made misleading statements and failed to disclose that: firstly, SBTech Global Limited, a company that acquired DraftKings, had a history of illegal operations; Accordingly, the merger with DraftKings SBTech led to the fact that the company became involved in the game on the black market; secondly, the foregoing increased the Company’s regulatory and criminal risks with respect to these transactions; Company`s revenues were generated in part by the illegal conduct, and consequently were unacceptable.

Robert McDowney

Author

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