PR Newswire
Sportradar’s SEC Filings Acknowledged Regulatory Risks in Generic Terms While the Company Allegedly Operated a Black-Market Revenue Pipeline Spanning Six Prohibited Countries
NEW YORK, May 27, 2026 /PRNewswire/ — Levi & Korsinsky, LLP reminds purchasers of Sportradar Group AG (NASDAQ: SRAD) securities of a pending securities class action.
THE CASE: A class action seeks to recover damages for investors who purchased SRAD securities between November 7, 2024, and April 21, 2026.
YOUR OPTIONS: You may be entitled to compensation without payment of any out-of-pocket fees. Find out if you qualify to recover your per-share losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
Shares fell $3.80 per share, a 22.6% single-day decline, after investigative reports on April 22, 2026, revealed the alleged scope of Sportradar’s illegal gambling operator relationships. The last day to move for lead plaintiff is July 17, 2026.
What the Company Disclosed in SEC Filings
Across its 2023, 2024, and 2025 Annual Reports, Sportradar included risk factor language acknowledging it was “subject to a variety of U.S. and foreign laws on sports betting” and that “the legality of sports betting is subject to uncertainties.” Each filing confirmed that the Company had “obtained all licenses, authorizations, findings of suitability, registrations, permits and approvals necessary for our current operations.” These filings were signed and certified by senior executives.
The complaint challenges whether these disclosures were adequate given what investigators later uncovered.
What the Lawsuit Alleges Was Missing
The securities action contends that Sportradar’s boilerplate risk warnings omitted critical, specific information that the Company already knew:
- Over 270 individual platforms using Sportradar products were allegedly operating illegally in regulated or prohibited gambling markets, representing more than a third of the 800 clients the Company claimed to serve
- Sales executives allegedly walked undercover investigators through product offerings tailored for illegal markets in Vietnam, Thailand, Indonesia, and China
- A top-ten client, 1xBet, was described by former employees as “likely the world’s largest illegal gambling operator by revenue”
- The Company allegedly maintained direct connections to operators in Russia, Turkey, and multiple Asian jurisdictions that forbid online gaming
- Three regulators in North America and Europe have reportedly commenced reviews following the investigative findings
Why Generic Risk Language May Not Shield the Company
The complaint argues that Sportradar’s disclosures framed illegal-market exposure as a hypothetical possibility while the Company was allegedly engaged in those markets as a core business strategy. The filing states that generic warnings about regulatory uncertainties cannot substitute for disclosing that the Company was already deriving material revenue from operators it knew were illegal. When Sportradar certified it had obtained “all licenses necessary for current operations,” the lawsuit maintains this was misleading because it omitted that the Company’s partners were operating without required licenses in prohibited jurisdictions.
“Generic risk factor language cannot substitute for disclosing specific, known problems that are already affecting a company’s operations. The gap between what Sportradar’s filings warned about hypothetically and what was allegedly happening operationally raises serious questions for shareholders.” — Joseph E. Levi, Esq.
Join the SRAD recovery action or call Joseph E. Levi, Esq. at (212) 363-7500.
ABOUT LEVI & KORSINSKY, LLP — Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report.
Frequently Asked Questions About the SRAD Lawsuit
Q: What specific misstatements does the SRAD lawsuit allege? A: The complaint alleges Sportradar made materially false or misleading statements regarding its compliance processes, KYC procedures, and the legality of its client relationships during the class period. When investigative reports revealed the Company’s alleged ties to over 270 illegal gambling platforms, the stock price declined sharply.
Q: When did Sportradar allegedly mislead investors? A: The class period runs from November 7, 2024, to April 21, 2026. The allegedfraud was revealed on April 22, 2026, through reports by Muddy Waters Research and Callisto Research, causing a 22.6% stock decline.
Q: What do SRAD investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: What if I already sold my SRAD shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP
