Sportradar Faces Securities Fraud Lawsuit After 22% Stock Plunge Erases $800M Market Value

According to court filings, Sportradar Group AG faces a securities fraud class action lawsuit in the U.S. District Court for the Southern District of New York over allegations that the sports data firm knowingly collaborated with unlicensed gambling operators to boost revenue. The stock plunged over 22% following short-seller accusations, wiping out approximately $800 million in market value. The lawsuit, filed as Smale v. Sportradar Group AG, names the company and CEO Carsten Koerl as defendants under the Securities Exchange Act of 1934, covering investors who purchased Class A common shares between November 7, 2024, and April 21, 2026.
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