DraftKings settles 2023 class-action suit for $10 million Suit claimed non-fungible tokens (NFTs) were securities DraftKings (NASDAQ: DKNG) agreed to settle a 2023 class-action lawsuit brought by buyers of non-fungible tokens (NFTs) on the gaming company’s now defunct DraftKings Marketplace. A DraftKings logo. The company reached a $10 million settlement in a class-action suit stemming from sales of NFTs. (Image: AP) Reached last week, the settlement calls for the sportsbook operator to distribute $10 million in cash payments to members of the class. They’re defined as customers that bought NFTs on DraftKings from Aug. 11, 2021 until the judgment is entered. DraftKings shuttered the marketplace and halted the Reignmakers fantasy sports game, which leveraged the NFTs, last July. The settlement is the product of vigorous litigation and serious, arm’s-length negotiation,” according to a filing for the plaintiffs. “This outstanding result was reached only after a thorough investigation of the claims, fully briefing defendants’ motion to dismiss, discovery in advance of… Read More
Category: Cryptocurrency, Legal, Sports Betting, cryptocurrency, legal, sports betting
Source: Casino.org
