DraftKings will pay $200,000 to SEC
DraftKings will pay $200,000 to the Securities and Exchange Commission (SEC) for social media disclosure issues.The issue comes from posts made by the company's CEO,...
DraftKings celebrates its victory against former Senior VP
The 1st US Circuit Court of Appeals in Boston made a significant ruling that limits Michael Hermalyn, a former executive at DraftKings, from starting his role at Fanatics.
Michael Hermalyn was the Senior Vice President of Growth at DraftKings. After resigning from DraftKings in January 2023, Hermalyn wanted to start his position in Fanatics.
However, later, in February, a legal dispute started between Hermalyn and DraftKings. DraftKings claimed that Hermalyn not only misappropriated trade secrets but also attracted employees for Fanatics and quickly sued him. As a result, the court Julia Kobick denied Hermalyn’s appeal and restricted his work for one year, bringing evidence that Michael Hermalyn transferred documents from DraftKings just before leaving.
As a response, Hermalyn denies everything and insists he did nothing wrong and filed a counterclaim in California, where non-compete agreements are generally not enforceable. His legal team also argues and leaves room for unexpected changes in the case.
Both parties are ready to continue the legal dispute and are working to prove the right from their perspectives.
Legal disputes around DraftKings
Recently, DraftKings has been at the center of legal disputes. On September 16, 2024, the MLB Players Association (MLBPA) filed lawsuits against DraftKings and other leading names in the industry, mentioning that they had unlawfully used players’ names and images without any proper permission.
Earlier, a similar lawsuit was submitted by the NFL Players Association (NFLPA) against DraftKings for using NFL player images in NFTs without permission.
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DraftKings supports sports betting legalization in Missouri
DraftKings donated another $5m to the "Winning for Missouri Education" campaign, making its total donation more than $10m.On Tuesday, September 17, the major US operators...
