NEW YORK, Aug. 9, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of DraftKings Inc. ("DraftKings" or the "Company") (NASDAQ: DKNG). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether DraftKings and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On August 1, 2024, DraftKings issued a press release announcing its financial results for the second quarter of 2024.  Among other items, DraftKings reported revenue of $1.1 billion, missing consensus estimates by $20 million.  The press release also stated that "DraftKings is revising its fiscal year 2024 Adjusted EBITDA guidance.  The Company now expects fiscal year 2024 Adjusted EBITDA of between $340 million and $420 million compared to its prior fiscal year 2024 Adjusted EBITDA guidance of between $460 million and $540 million, which the Company previously announced on May 2, 2024." 

On this news, DraftKing's stock price fell $3.47 per share, or 9.78%, to close at $21.02 per share on August 2, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising.  Prior results do not guarantee similar outcomes.

CONTACT:

Danielle Peyton

Pomerantz LLP

dpeyton@pomlaw.com

646-581-9980 ext. 7980

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SOURCE Pomerantz LLP