Investors’ Securities Claims Against DraftKings Devoid Of Necessary Elements

Mealey's (January 12, 2023, 7:31 AM EST) -- NEW YORK — Dismissal of shareholder claims against digital sports and gaming company DraftKings Inc., certain of its senior executives and others alleging that the defendants concealed the company’s involvement in black-market gaming as a result of its merger with a special purpose acquisition company (SPAC) is proper because the lead plaintiff in the action failed to sufficiently plead any of the necessary elements of his federal securities law claims, a federal judge in New York ruled Jan. 10....