New York Supreme Court rejects dismissal motions in FanDuel shareholder case
New York Supreme Court denied motions to dismiss claims brought by FanDuel co-founder Nigel Eccles and other former shareholders against KKR and Shamrock Capital, according to the report. The plaintiffs allege the firms undervalued FanDuel in its 2018 merger; the ruling allows the case to proceed, while KKR and Shamrock have also accused Eccles of breaching a 2017 agreement.
The decision keeps the former shareholders’ claims over FanDuel’s 2018 valuation in litigation.