DraftKings fined over CEO's LinkedIn post [Fortune]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Fortune
According to the SEC , the public relations team for the $20 billion fantasy sports and casino platform published a post on CEO Jason Robins' personal X, formerly Twitter, account and on LinkedIn, stating, “There's massive potential for growth in new markets—but we're still seeing really strong growth in existing states. Our 2018-2019 state vintage grew over 80% on the revenue basis year-over-year in Q1. With those numbers, we expect robust growth even without new states opening.” Neither of those platforms is an official source for DraftKings and information about company growth shouldn't have been shared to the selective audiences on LinkedIn and X, alleged the SEC. After the posts went live, DraftKings' communications team alerted the PR firm immediately and the posts were taken down within a half hour. Even so, DraftKings didn't release the information to the general public or its investors for another seven days until its scheduled earnings release. The regulator said the sele
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News
- DraftKings Promo Code: Bet $5, Get $200 Bonus for No. 1 Georgia-No. 4 Alabama & NFL Week 4 [USA TODAY]USA TODAY
- Boston-based DraftKings fined $200K over CEO's social media posts [Yahoo! Finance]Yahoo! Finance
- SEC sanctions selective disclosure on social media [Investment Executive - News]Investment Executive - News
- DraftKings fined over CEO's LinkedIn post [Yahoo! Finance]Yahoo! Finance
- Morning Bid: Roaring Chinese stocks set for best week in a decade [Yahoo! Finance Canada]Yahoo! Finance Canada
DKNG
Earnings
- 8/1/24 - Beat
DKNG
Sec Filings
- 9/25/24 - Form 144
- 9/4/24 - Form 4
- 9/4/24 - Form 4
- DKNG's page on the SEC website