CHICAGO, March 09, 2023 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts, No. 23 Civ. 10524, on behalf of those who acquired non-fungible tokens (“NFTs”) from DraftKings Inc. (“DraftKings” or the “Company”) during the period from August 11, 2021 through the present (the “Class Period”). Investors have until May 8, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
DraftKings Inc. operates as a daily fantasy sports contest and sports betting company.
The lawsuit alleges that, throughout the Class Period: (1) the NFTs were securities for which DraftKings unlawfully failed to file a registration statement; (2) DraftKings ensured that money invested by class members stayed on DraftKings’ private and exclusively controlled marketplace, propping up the market for and overall valuation of DraftKings’ NFTs; and (3) investors have suffered significant damages.
The lawsuit alleges that this conduct violated Sections 5, 12(a)(1), and 15 of the Securities Act of 1933, Sections 5, 15(a)(1), 20(a), and 29(b) of the Securities Exchange Act of 1934, and Sections 201(a) and 301 of Chapter 110A of Massachusetts General Laws. DraftKings, Chief Executive Officer Jason D. Robins, Chief Financial Officer Jason K. Park, and President of North America Matthew Kalish are named as defendants.
If you purchased or otherwise acquired DraftKings NFTs and would like to learn more about this lawsuit and how it might affect your rights, please contact Anthony F. Fata of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Anthony F. Fata, Esq.
312-767-5180
https://www.kmllp.com
investigations@kmllp.com
