PR Newswire
Important Notice Regarding Alleged Black-Market Gambling Revenue Scheme That Cost SRAD Investors $3.80 Per Share
NEW YORK, June 3, 2026 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in Sportradar Group AG (NASDAQ: SRAD) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between November 7, 2024, and April 21, 2026. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
Sportradar shares fell $3.80 per share, or 22.6%, after investigative reports revealed the Company allegedly derived a material portion of its revenues from illegal gambling operators across black and grey markets. The lead plaintiff deadline is July 17, 2026.
How Illegal Operator Partnerships Allegedly Drove SRAD Revenue
The global sports betting data industry depends on trust between data providers and licensed operators. According to the lawsuit, Sportradar broke that trust by deliberately partnering with unlicensed and illegal gambling platforms as a core business strategy, not as an isolated compliance failure. The complaint contends that over 270 individual platforms, more than a third of the roughly 800 operators Sportradar claims to serve, were using the Company’s products while operating illegally in regulated or prohibited markets.
Key Black-Market Gambling Allegations for Shareholders
- The lawsuit alleges Sportradar actively aided and abetted illegal gambling across markets in Vietnam, Thailand, Indonesia, China, Russia, and Turkey where online gaming is prohibited
- A Sportradar sales executive allegedly bragged that the Company “serves everyone” and walked undercover investigators through product offerings tailored for illegal markets
- The action claims the Company’s KYC and compliance processes were a “check-the-box” exercise that knowingly permitted illegal operators to access Sportradar’s data and products
- According to the complaint, Sportradar maintained business relationships with operators tied to human trafficking operations and sanctioned individuals
- Three regulators in North America and Europe have allegedly already commenced reviews of the Company following the investigative findings
The Alleged “See Nothing, Know Nothing” Compliance Strategy
The lawsuit contends that Sportradar intentionally combined superficial compliance reviews with willful blindness toward illegal markets. While the Company published a Code of Business Conduct emphasizing integrity and professionalism, its actual business practices allegedly permitted known illegal operators, including entities linked to organized crime, to freely use Sportradar’s data feeds and betting platforms. The complaint asserts this approach was not a lapse but a deliberate revenue strategy.
“This case presents important questions about compliance disclosure obligations in the sports betting data sector. When a company represents that it maintains strict KYC processes while allegedly partnering with hundreds of illegal operators, investors deserve to know the true source of revenues driving the stock price.” — Joseph E. Levi, Esq.
Submit your information to join this case or contact 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. Applications to serve as lead plaintiff must be filed by July 17, 2026.
Frequently Asked Questions About the SRAD Lawsuit
Q: What is the SRAD class action lawsuit about? A: A securities class action has been filed against Sportradar Group AG (NASDAQ: SRAD) alleging materially false and misleading statements between November 7, 2024, and April 21, 2026. Shares fell approximately 22.6% after investigative reports revealed the Company’s alleged ties to illegal gambling operators, causing significant losses for shareholders.
Q: Who is eligible to join the SRAD investor lawsuit? A: Investors who purchased SRAD stock or securities between November 7, 2024, and April 21, 2026, and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.
Q: How much did SRAD stock drop? A: Shares fell approximately 22.6%, a decline of $3.80 per share, after Muddy Waters Research and Callisto Research published reports revealing Sportradar’s alleged intentional ties to black-market gambling operators. Investors who purchased shares during the class period at artificially inflated prices may be entitled to compensation.
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
