FanDuel co-founders launch BetHog sportsbook and crypto casino
Co-founders of an American gambling company, FanDuel, announced the launch of a new sportsbook and crypto casino, BetHog, with $6 million in funding to support its growth and...
FanDuel lawsuit to resume after years of delay
The New York Supreme Court has decided to resume the discovery of a lawsuit involving FanDuel co-founder Nigel Eccles and other plaintiffs after years of delay.
The lawsuit was filed in 2020 and involved more than 100 plaintiffs, including FanDuel founders, early employees, and investors. The plaintiffs claimed that key investors and company leaders made FanDuel seem less valuable during the merger with Paddy Power Betfair. Moreover, they also claim that ordinary shareholders were left with no compensation, despite their significant contributions to the company’s value.
The plaintiffs’ attorneys said earlier:
“Because further discovery in this case is inevitable, staying it now accomplishes nothing and, indeed, may serve to complicate discovery in the future due to the passage of time. The only purpose staying discovery serves is to further delay this matter and reward defendants’ repeated efforts to avoid answering for their actions—actions that left FanDuel’s common shareholders without billions of dollars in value they had created.”
Earlier this summer, the plaintiffs submitted a 216-page complaint that introduced allegations of fraud, bribery, and conspiracy. They claim individuals close to the company conspired to exclude common shareholders from the merger proceeds, breaching fiduciary duties.
This case had previously been dismissed but was revived in May when the New York Appeals Court determined that the plaintiffs had raised valid breach of contract claims.
Bally Sports to be under FanDuel’s Sports Network name
Through a newly signed agreement, Bally Sports becomes FanDuel's new Sports Network.As part of the agreement, Bally Sports is one of the 16 Diamond regional sports...
