NEW YORK, Nov. 05, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Sportradar Group AG (“Sportradar” or the “Company”) (NASDAQ: SRAD). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Sportradar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around September 14, 2021, Sportradar conducted its initial public offering (“IPO”), selling 19 million of its Class A ordinary shares priced at $27.00 per share. Then, on November 1, 2023, Sportradar announced disappointing results for its third quarter of 2023, including GAAP earnings-per-share of $0.01, missing consensus estimates by $0.04, and revenue of $201 million, missing consensus estimates by $25.19 million.
On this news, Sportradar’s Class A ordinary share price fell $0.73 per share, or 8.27%, to close at $8.10 per share on November 1, 2023, representing a 70% decline from the Company’s $27.00 per share IPO price.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
