DraftKings NFTs Securities Trial Advances As Judge Rejects Motion To Dismiss Lawsuit

Quick Summary:

A US Judge has rejected DraftKings’ motion to dismiss the class action lawsuit filed by the company’s Non-Fungible Token (NFT) buyers.

The lawsuit accuses DraftKings, its CEO, CFO, and president of allegedly violating federal securities laws with its NFTs.

Namely, whether Dufoe and other purchasers were investing in a common enterprise with the expectation of profits derived solely from the efforts of others.

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Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets: Hungary

Topics: Crypto News Draftkings NFT Securities Trial Nfts DraftKings Marketplace Draftkings NFT Polygon blockchain US judge US Court ETH ETHUSDT Non-fungible token

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-04 @ 05:30:13 (3 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 510 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21478552

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About Bitcoinist

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Official Website: bitcoinist.com

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Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

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