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PREFERRED vs COMMON “FanDuel's founders — plus dozens of early employees and investors — are suing the company's two largest investors before the merger, KKR and Shamrock Capital… All of the plaintiffs were common shareholders in FanDuel before the Flutter merger, but claim… https://t.co/agbgVPGdZE
FanDuel founders and other early shareholders sue KKR and Shamrock Capital over the 2018 Paddy Power Betfair merger that wiped out the value of their holdings (@danprimack / Axios) https://t.co/v49648f0Bs 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/49Lg66CuHv
FanDuel's parent company is worth $37 billion. Its founders and early employees got nothing. https://t.co/68gDutPx6i $FLUT
FanDuel founders and early shareholders have filed a lawsuit against private equity firms KKR and Shamrock Capital, alleging fraud in connection with the 2018 merger with Paddy Power Betfair. The merger, which led to the formation of a company now valued at $37 billion, reportedly wiped out the value of the holdings of FanDuel's early stakeholders. The plaintiffs, who were common shareholders, claim they received no compensation from the deal, despite the significant increase in the company's valuation post-merger.
