Sportradar Faces Fresh Investor Probes After Reports Tie Business to Illegal Betting

Overview

• Securities firm Kessler Topaz said it is investigating Sportradar for potential violations of federal securities laws on behalf of investors.
• Rosen Law Firm, Pomerantz, Hagens Berman, and Bleichmar Fonti & Auld have launched their own probes focused on whether investors were misled about Sportradar working only with licensed betting operators.
• Muddy Waters alleged Sportradar aided illegal gambling and estimated unlicensed operators contribute roughly 20% to 40% of company revenue.
• Callisto reported more than 270 betting sites used or claimed to use Sportradar data while operating illegally, and Muddy Waters said it supported its claims with code analysis and employee interviews.
• Sportradar shares fell 22.6% to $13.04 on April 22 after the reports, erasing more than $800 million in market value.