More Law Firms Probe Sportradar After Reports Tying It to Illegal Gambling
The inquiries follow research that accused the sports-data seller of powering unlicensed betting sites with significant revenue at stake.
Overview
- Pomerantz LLP said it is investigating possible securities fraud by Sportradar and is seeking to speak with investors.
- Rosen Law Firm announced a separate investigation and said it is preparing a class action to pursue recovery for shareholders.
- The investor moves follow reports published April 22 that accused Sportradar of supplying data and tools to illegal sportsbooks and estimated 20% to 40% of revenue came from those operators.
- Sportradar shares, after the April 22 publications, fell 22.6% to close at $13.04, reflecting a steep loss in market value.
- Callisto reported that three U.S. gambling regulators have started reviews of the company, a claim not yet confirmed by the agencies and one that signals possible regulatory scrutiny.