DraftKings : Reports Second Quarter Revenue of $298 Million; Increases 2021 Revenue Guidance to $1 21 Billion to $1 29 Billion
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DraftKings SEC subpoena: Company discloses subpoena related to Hindenburg Report
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NEW YORK, Aug. 3, 2021 /PRNewswire/ Pomerantz LLP announces that a class action lawsuit has been filed against DraftKings Inc. f/k/a Diamond Eagle Acquisition Corp. ( DEAC , DraftKings , or the Company ) (NASDAQ: DKNG) and certain of its officers. The class action, filed in the United States District Court for the Southern District of New York, and docketed under 21-cv-05739, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired DraftKings securities between December 23, 2019 and June 15, 2021, both dates inclusive (the Class Period ), seeking to recover damages caused by Defendants violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the Exchange Act ) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
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DraftKings operates as a digital sports entertainment and gaming company in the U.S. It operates through two segments, Business-to-Consumer and Business-to-Business (B2B). DraftKings was incorporated in Nevada as DEAC NV Merger Corp., a wholly owned subsidiary of its legal predecessor, DEAC, a special purpose acquisition company. On April 23, 2020, DEAC consummated transactions contemplated by a Business Combination Agreement (the Business Combination ) dated December 22, 2019, as amended on April 7, 2020. In connection therewith, DraftKings acquired all of the issued and outstanding share capital of SBTech (Global) Limited ( SBTech ). SBTech is a full-service B2B turnkey technology provider with omni-channel sports betting solutions, trading services, and marketing and bonus tools powering popular sports betting and online gaming brands.