Overview
- A proposed class action filed May 18, 2026 in the Southern District of New York names Sportradar Group AG and CEO Carsten Koerl and CFO Craig Felenstein, alleging the company misled investors about ties to illegal gambling operators.
- Short-seller reports published April 22, 2026 by Muddy Waters and Callisto allege undercover contacts, code analysis, and employee interviews showing hundreds of unlicensed platforms used or claimed to use Sportradar services.
- The April 22 allegations triggered a steep market reaction that cut Sportradar shares about 22.6% in one day and wiped roughly $800 million from the company’s market value.
- Sportradar denies the claims, but its Q1 2026 report showed $406 million in revenue and a $7 million loss versus a profit a year earlier, and analysts downgraded the stock after the short-seller publications.
- Multiple plaintiff firms have launched suits or investor solicitations and set a July 17, 2026 deadline to seek lead-plaintiff status, while reports say regulators in North America and Europe are reviewing the company and whistleblowers are being encouraged to come forward.