DraftKings to pay $8 million to settle consolidated class claims

DraftKings to pay $8 million to settle consolidated class claims

Article brief provided by Bloomberg
  • Peter Hayes, Bloomberg
March 5, 2021 7:58 PM
  • Peter Hayes, Bloomberg

DraftKings Inc. will pay $8 million to resolve class action claims that it engaged in advertising campaigns that misrepresented the difficulty of daily fantasy sports contests and the terms of promotional offers, under the terms of a proposed settlement filed in the District of Massachusetts.

Story continues below

The agreement, which settles the claims of approximately 3.15 million people, leaves unresolved claims against FanDuel Inc. in the consolidated multidistrict litigation.

The settlement class includes all people in the U.S. who made a first-time deposit into their DraftKings Daily Fantasy Sports account before Jan. 1, 2018, and who have taken a net loss on DraftKings.