Keep up with the latest developments and legal issues in the telecommunications and emerging technology sectors, with exclusive access to a comprehensive collection of telecommunications law news,...
Oct. 25 — Online daily fantasy sports providers DraftKings Inc. and FanDuel Inc. have agreed to pay a total of $12 million to settle lawsuits alleging false advertising practices, New York Attorney General Eric T. Schneiderman announced Oct. 25.
Schneiderman (D) reached separate agreements with the two companies, who will each pay $6 million and make changes to their marketing practices, according to the announcement. The agreements require, among other things, a clear disclosure of terms for marketing promotions and material facts concerning representations of expected winnings.
The agreements resolve all outstanding claims Schneiderman brought against the companies since November 2015. Schneiderman in March had reached a partial settlement with the companies that shut down daily fantasy sports in the state until legislators could pass a regulatory scheme (21 ECLR 403, 3/23/16). The state enacted a law legalizing and regulating daily fantasy sports in August (21 ECLR 31, 8/10/16).
“Today’s settlements make it clear that no company has a right to deceive New Yorkers for its own profit,” Schneiderman said in a statement announcing the settlements. “DraftKings and FanDuel will now be required to operate with greater transparency and disclosure and to permanently end the misrepresentations they made to millions of consumers.”
FanDuel spokeswoman Justine Sacco said in an e-mailed statement that the negotiations were “tough but fair.” DraftKings said in an e-mailed statement that the company is “pleased to move forward” and that it is “focused on ensuring that millions of passionate sports fans across the country are able to continue engaging in an innovative way with the sports and athletes they love.”
To contact the reporter on this story: Alexis Kramer in Washington at email@example.com
To contact the editor responsible for this story: Keith Perine at firstname.lastname@example.org
Copyright © 2016 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)