DraftKings has agreed to a $10 million settlement to resolve a class action lawsuit challenging its NFT Marketplace and Reignmakers product. The lawsuit, which accused the company of offering unregistered securities, had been ongoing for nearly 18 months before both parties reached a resolution. The legal dispute, initiated by lead plaintiff Justin Dufoe in March 2023, centered on allegations that DraftKings’ NFTs functioned as securities under U.S. law but were not properly registered. Dufoe filed the case in the U.S. […]

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A renowned sport betting operator, DraftKings Inc., has revealed its intentions to acquire the US operations of the Australia-based sports wagering giant PointsBet. According to the press release, DraftKings delivered a letter to both the Non-Executive Chairman and Chief Executive Officer of PointsBet Holdings Ltd on June 16, 2023 detailing the indicative offer for the intended acquisition and a purchase price of $195 million. Superior Offer: The offer represents a 30% higher value in comparison to the $150 million Fanatics’ […]

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