DraftKings settles class-action lawsuit over NFT marketplace for $10M

Quick Summary:

Gambling company DraftKings has agreed to pay a $10 million settlement to a group of NFT buyers that accused it of selling unregistered securities.

A highlighted excerpt from the class group’s filing arguing to allow the settlement to avoid “costly litigation,” which could take years.

The group said that “realistic and supportable damages” range from $18 million to $58 million, with the settlement amounting to 26% “of the midpoint of potentially recoverable damages in this case — an excellent recovery under the circumstances.

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Cointelegraph by Jesse Coghlan

Category: Crypto

Markets: United States

Topics: Settlement Nfts Draftkings Filed Marketplace Million Securities Group Class Company Suit

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-03 @ 05:42:52 (22 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 510 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 30 words per sentence (average)

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

Copyright Owner: © Coin Telegraph

News ID: 26611521

View Article Analysis

About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 271 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

Publisher Details

Frequently Asked Questions