Investors File Securities Class Action Against Sportradar After Short-Seller Allegations

Overview

• A shareholder filed a proposed class action in federal court in Manhattan naming Sportradar, its CEO Carsten Koerl, and CFO Craig Felenstein.
• The suit claims the company misled investors about strict onboarding and Know-Your-Customer checks, citing Koerl’s public remarks about a four-level vetting process and a robust compliance team.
• The complaint followed April 22 short-seller reports from Muddy Waters and Callisto that described code and system links to unlicensed betting sites and alleged ties to hundreds of illegal platforms.
• Sportradar denies the reports and the suit’s claims, calling the allegations inaccurate and defending its compliance practices.
• Investor law firms including Rosen Law Firm and Bleichmar Fonti & Auld have launched investigations and are recruiting shareholders, a step that often precedes broader securities litigation.