{"id":966554,"date":"2026-05-25T11:48:12","date_gmt":"2026-05-25T15:48:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/"},"modified":"2026-05-25T11:48:12","modified_gmt":"2026-05-25T15:48:12","slug":"sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/","title":{"rendered":"Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS"},"content":{"rendered":"<div class=\"mw_release\">\n<p>SAN FRANCISCO, May  25, 2026  (GLOBE NEWSWIRE) &#8212; Sportradar Group (<strong>NASDAQ: SRAD<\/strong>) faces a securities class action lawsuit, which seeks to represent investors who purchased or otherwise acquired Sportradar Class A ordinary shares between November 7, 2024 and April 21, 2026.<\/p>\n<p>The lawsuit comes in the wake of the massive 22% collapse in the company shares on April 22, 2026, triggered by reports published by Muddy Waters Research and Callisto Research that accused the company of misleading investors about the legality of its business model and revenue sources.<\/p>\n<p>Hagens Berman is investigating the pending claims alleging Sportradar\u2019s pre-April 22 disclosures violated the federal securities laws. The firm encourages Sportradar investors who suffered substantial losses to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=i7pf9xFzvrl7ntLTOdPg-yJ6IirRS6buKilqV9I_FsuMt6CshgtEw1Y_mVNK-DqLzA8U9-zDUD6HuOAeA1adMZvPhuQQ75RcFR4MtPu4uIAJx8mFfBSg1j214aPbiYrr\" rel=\"nofollow\" target=\"_blank\">submit your losses now<\/a>. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.<\/p>\n<p>\n        <strong>Class Period: <\/strong>Nov. 7, 2024 \u2013 Apr. 21, 2026<br \/><strong>Lead Plaintiff Deadline: <\/strong>July 17, 2026<br \/><strong>Visit:<\/strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-kevmuDBOSDkEIzxcdmi2xUs9iMvPKU-lWfZQs43KpTKjuvXdLvJOHaZmXEo_nHXyTLOusmuVmX9GLNfB3k1tBUR7lqi2mH6lBVbX5KUyM_2-ON8JoYXhV98PfZamIJ0F-QkVX-jEk592z12zEPlxA==\" rel=\"nofollow\" target=\"_blank\">www.hbsslaw.com\/investor-fraud\/srad<\/a><br \/><strong>Contact the Firm Now: <\/strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=pbCnh1Vs-FzCVT6wBndWsqG0sQc-K4DBI0BUFmmMBPL6uOd97v6aVs3SOT9tY-nDNfBTgQAt-2Yifl4vclIe7pEl3MMa8fxdHpMZtb467SY=\" rel=\"nofollow\" target=\"_blank\">SRAD@hbsslaw.com<\/a><br \/>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0844-916-0895<\/p>\n<p>\n        <strong>Sportradar Group AG (SRAD) Securities Class Action:<\/strong>\n      <\/p>\n<p>The lawsuit alleges that Sportradar misrepresented and failed to disclose that the company intentionally worked with black-market gambling operators to increase its revenues, despite its assurances of strict legal and regulatory compliance and claims that ethics and integrity were crucial to the company\u2019s operations.<\/p>\n<p>Investors\u2019 expectations about Sportradar\u2019s business practices, including purported KYC and Code guardrails, were dashed on April 22, 2026. That day, two activist short seller firms published highly critical reports on Sportradar\u2019s business practices, each contradicting the company\u2019s prior statements.<\/p>\n<p>Muddy Waters Research conducted an undercover investigation, analyzed Sportradar\u2019s website code, and interviewed 15 current and former company employees to reach its conclusion that \u201cSRAD has actively aided and abetted illegal gambling across the world\u2019s black and grey markets \u2013 not as an accident or an oversight, but as a business strategy.\u201d The firm \u201cestimate[d] that illegal operators today deliver approximately 20-40% of total revenues[]\u201d to Sportradar. Muddy Waters said it \u201cidentified nearly 50 companies as current or recent SRAD clients and collaborators who are operating in illegal markets.\u201d<\/p>\n<p>For its part, Callisto examined hundreds of gambling platforms and reported that it found evidence that \u201cover 270 individual platforms (more than a third of the 800 Sportradar claims to serve) are using Sportradar\u2019s products or services, or explicitly claiming to do so, while operating illegally in regulated or prohibited gambling markets.\u201d Callisto also said \u201c[m]any of these operators have no license whatsoever[]\u201d and \u201ca senior former employee we spoke to estimated the exposure to unlicensed operators could be as high as 30-40% of Sportradar\u2019s revenue.\u201d<\/p>\n<p>The market swiftly reacted, wiping out over $800 million of Sportradar\u2019s market capitalization in a single day.<\/p>\n<p>\u201cWe\u2019re investigating the pending claims that, unbeknownst to investors, Sportradar\u2019s business practices were, in contrast to its claims, illegal, and whether the company may have recorded illegally obtained revenues,\u201d said <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ampMpxHvyAjrMJwJi8d2zKxRubYEYXsanF8ae8NnFFf5M8dHK6AD-qRQJU2rSw_asoQdRlEXz8D_M7ed6kdnGGfOvH-DcTjOFE2NAHRsIspowb52fWSFcjB2boABC4Jz\" rel=\"nofollow\" target=\"_blank\"><strong>Reed Kathrein<\/strong><\/a>, the Hagens Berman partner leading the firm\u2019s investigation of the claims in the pending suit.<\/p>\n<p>If you invested in Sportradar and have substantial losses, or have knowledge that will assist the firm\u2019s investigation, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=i7pf9xFzvrl7ntLTOdPg-yJ6IirRS6buKilqV9I_FssXAfh7noPdyfHgbyMMxaUP4STefzetBVICkSRa1ue_iKrY5PVJ5DUzXTmQGDl5907xcz48O34QdeKbggKQ27Ln\" rel=\"nofollow\" target=\"_blank\">submit your losses now<\/a>.<\/p>\n<p>If you\u2019d like more information and answers to frequently asked questions about the Sportradar case and our investigation, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ywxckUC7u-rLQsIvnBhkCam2SEGY-XhOEPKZQ8GPaidh8A2Jr4Ya_EP28frOCRiKhXfWY92SfH7sfB314JgW3cjiiwYUjn7TvXC7i634Q3xJZJvix9aHbaJx3FG7NzLTQNsws2PycF2ybN_wqIKAdNRSWjkCvk7bD4rkXD9j0NE=\" rel=\"nofollow\" target=\"_blank\">read more<\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=uR6v4jN3F9tZ-GTZC-fPR49mrwqlVdNUUL36V_4L5W8h6bFanD67-3JaiSxCHE199izNPzFVYzEaQWE2m4sAlVgZ6Tutw2Q_Y7y1SrWS4NIEnP2CEB2a6dxwxLgwSqJSKBSh3e7ZILKhp2DmkMkGqA==\" rel=\"nofollow\" target=\"_blank\"> \u00bb<\/a><\/p>\n<p>\n        <strong>Whistleblowers: <\/strong>Persons with non-public information regarding Sportradar should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at <strong>844-916-0895<\/strong> or email <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=pbCnh1Vs-FzCVT6wBndWsqbcq8Y8qa2hMgouSO-HgsvYZhMBRtmi0ypshbn4bAVjRCkQ4zW8gvLEMcQwdX0L0Is6f2qeGCkzhDWRVLpcudo=\" rel=\"nofollow\" target=\"_blank\">SRAD@hbsslaw.com<\/a>.<\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mBqwbgOATK4NY9g2HqZqRekvyfq21AU0duKsK1Z6emt1yui2kZ8mx8lXsFf9ff3vPrFCLDVw3c32fUobiVsRx8Y-aOdGaZERZ66J5tO6U0E=\" rel=\"nofollow\" target=\"_blank\">About Hagens Berman<\/a><br \/>\n        <br \/>Hagens Berman is a global plaintiffs\u2019 rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman\u2019s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=nA3sBHnVPGXNJMLFZoReBfdkGSGZBG4jwfoq2y9ToVSG8Iu-g5salFueVnvrQXKrycO1gEBvwBvhb8RZuuqx4A==\" rel=\"nofollow\" target=\"_blank\">hbsslaw.com<\/a>. Follow the firm for updates and news at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Qh7EKs4Nr7cTTYk8dBRyfL_ilDX0pLnoqL_O219YjDEbPbZdwC4C06672_65Wq0rQE0v9LIoso44Nc9iEz0SI8TUJ-Tgx0g8c74r8cKxwNASrhnkN12EBFTAnVDc1KFI\" rel=\"nofollow\" target=\"_blank\">@ClassActionLaw<\/a>.<\/p>\n<p>\n        <u>Contact: <\/u><br \/>\n        <br \/>Reed Kathrein, 844-916-0895<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcyNjA1MiM3NjE5NzgxIzIwMTg1MzI=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YzE0Y2YwMmQtMzljZC00ZmFiLTgyZWEtNTA5Y2UxNmRkZTJlLTEwMzAxMDUtMjAyNi0wNS0yNS1lbg==\/tiny\/Hagens-Berman-Sobol-Shapiro-LL.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SAN FRANCISCO, May 25, 2026 (GLOBE NEWSWIRE) &#8212; Sportradar Group (NASDAQ: SRAD) faces a securities class action lawsuit, which seeks to represent investors who purchased or otherwise acquired Sportradar Class A ordinary shares between November 7, 2024 and April 21, 2026. The lawsuit comes in the wake of the massive 22% collapse in the company shares on April 22, 2026, triggered by reports published by Muddy Waters Research and Callisto Research that accused the company of misleading investors about the legality of its business model and revenue sources. Hagens Berman is investigating the pending claims alleging Sportradar\u2019s pre-April 22 disclosures violated the federal securities laws. The firm encourages Sportradar investors who suffered substantial losses to submit your losses now. The &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-966554","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAN FRANCISCO, May 25, 2026 (GLOBE NEWSWIRE) &#8212; Sportradar Group (NASDAQ: SRAD) faces a securities class action lawsuit, which seeks to represent investors who purchased or otherwise acquired Sportradar Class A ordinary shares between November 7, 2024 and April 21, 2026. The lawsuit comes in the wake of the massive 22% collapse in the company shares on April 22, 2026, triggered by reports published by Muddy Waters Research and Callisto Research that accused the company of misleading investors about the legality of its business model and revenue sources. Hagens Berman is investigating the pending claims alleging Sportradar\u2019s pre-April 22 disclosures violated the federal securities laws. The firm encourages Sportradar investors who suffered substantial losses to submit your losses now. The &hellip; Continue reading &quot;Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-25T15:48:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcyNjA1MiM3NjE5NzgxIzIwMTg1MzI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS\",\"datePublished\":\"2026-05-25T15:48:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\\\/\"},\"wordCount\":707,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTcyNjA1MiM3NjE5NzgxIzIwMTg1MzI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\\\/\",\"name\":\"Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/","og_locale":"en_US","og_type":"article","og_title":"Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS - Market Newsdesk","og_description":"SAN FRANCISCO, May 25, 2026 (GLOBE NEWSWIRE) &#8212; Sportradar Group (NASDAQ: SRAD) faces a securities class action lawsuit, which seeks to represent investors who purchased or otherwise acquired Sportradar Class A ordinary shares between November 7, 2024 and April 21, 2026. The lawsuit comes in the wake of the massive 22% collapse in the company shares on April 22, 2026, triggered by reports published by Muddy Waters Research and Callisto Research that accused the company of misleading investors about the legality of its business model and revenue sources. Hagens Berman is investigating the pending claims alleging Sportradar\u2019s pre-April 22 disclosures violated the federal securities laws. The firm encourages Sportradar investors who suffered substantial losses to submit your losses now. The &hellip; Continue reading \"Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/","og_site_name":"Market Newsdesk","article_published_time":"2026-05-25T15:48:12+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcyNjA1MiM3NjE5NzgxIzIwMTg1MzI=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS","datePublished":"2026-05-25T15:48:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/"},"wordCount":707,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcyNjA1MiM3NjE5NzgxIzIwMTg1MzI=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/sportradar-group-ag-srad-securities-class-action-filed-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout-hbss-2\/","name":"Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout \u2013 HBSS - 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