Business
Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout - Hagens Berman
Sportradar Group AG (SRAD) Securities Class Action Filed Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout
About this update from Sportradar Group Ag
[{"type":"text","content":"\nSRAD Investors with Losses Encouraged to Contact Hagens BermanSAN FRANCISCO, May 26, 2026 /PRNewswire/ -- 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's pre-April 22 disclosures violated the federal securities laws. The firm encourages Sportradar investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.Class Period: Nov. 7, 2024 – Apr. 21, 2026Lead Plaintiff Deadline: July 17, 2026Visit: www.hbsslaw.com/investor-fraud/sradContact the Firm Now: [email protected] Group AG (SRAD) Securities Class Action: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's operations.Investors' expectations about Sportradar's 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's business practices, each contradicting the company's prior statements.Muddy Waters Research conducted an undercover investigation, analyzed Sportradar's website code, and interviewed 15 current and former company employees to reach its conclusion that \"SRAD has actively aided and abetted illegal gambling across the world's black and grey markets – not as an accident or an oversight, but as a business strategy.\" The firm \"estimate[d] that illegal operators today deliver approximately 20-40% of total revenues[]\" to Sportradar. Muddy Waters said it \"identified nearly 50 companies as current or recent SRAD clients and collaborators...