Bartlit Beck Files a Lawsuit Against KKR, Shamrock Capital, and Former Members of FanDuel Board of Directors

Today, a Bartlit Beck team including Phil Beck, Sean Gallagher, Cindy Sobel, Andrew MacNally, and Nevin Gewertz filed a lawsuit on behalf of over 120 plaintiffs—founders, former employees, and early investors in FanDuel—in the commercial division of New York Supreme Court. The lawsuit seeks damages and a constructive trust for breaches of fiduciary duties by former members of the FanDuel board of directors and late-stage private equity investors, KKR & Co., Inc. and Shamrock Capital Advisors, LLC, relating to the failures of those individuals and entities to properly value the stock consideration FanDuel received as part of its 2018 merger with Paddy Power Betfair. For additional information, read the complaint here and coverage in The Wall Street Journal here and Reuters here.