SEC orders DraftKings to pay $200,000 over investor disclosures
The US Securities and Exchange Commission said DraftKings agreed to pay a $200,000 civil penalty to settle charges over information shared on its chief executive’s social media accounts. The SEC said the posts appeared on 27 July 2023, before the company had published its second-quarter results, and the information was not publicly disclosed until seven days later. DraftKings agreed to cease and desist and provide Regulation FD training to relevant employees, without admitting or denying the findings.
The order requires DraftKings to pay a penalty and change training for employees handling corporate communications.