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DraftKings and former executive Michael Hermalyn are reportedly negotiating a settlement regarding a federal lawsuit stemming from Hermalyn's move to Fanatics Sportsbook. The legal dispute began shortly after Hermalyn left DraftKings for Fanatics, leading to accusations of violating a noncompete agreement. Both parties have requested a stay on court deadlines, indicating progress towards resolution. Hermalyn has already served nearly nine months of a one-year noncompete period. Additionally, in a separate legal matter, a lawsuit claims that fantasy sports companies PrizePicks, Underdog Fantasy, and Yahoo may have crossed legal boundaries in Massachusetts by offering bets without proper registration, potentially blurring the lines between fantasy sports and sports betting.
Looks like DK and Fanatics/Mike Hermalyn are on the verge of a settlement. Asked the court for a stay on deadlines and said as much. Hermalyn is already nearly nine months through his one-year noncompete.
The long-running legal battle between DraftKings and a former executive could be nearing an armistice. The two sides “are negotiating a potential resolution” of a federal lawsuit that began days after Hermalyn left $DKNG for Fanatics Sportsbook. More ⬇️
Fantasy sports may have crossed the legal line in Massachusetts. A lawsuit claims #PrizePicks, #Underdog Fantasy, and #Yahoo offered bets that crossed into sports betting without proper registration. https://t.co/J9OhOE5Elp
