Sportradar Group AG (NASDAQ: SRAD) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Sportradar Group AG (NASDAQ: SRAD) (“Sportradar”) Class A ordinary shares between November 7, 2024 and April 21, 2026, inclusive (the “Class Period”).

Sportradar is a sports technology company that aggregates, analyzes, and distributes sports data, streaming content, and sports betting services to other companies.

The Class Period begins on November 7, 2024, when Sportradar filed its third quarter 2024 financial results which noted that the company may be subject to certain risks and outlined various “risk factors” as examples, but the company also referred investors to the “other risk factors set forth in the section titled ‘Risk Factors’ in [the company’s] Annual Report on Form 20-F for the fiscal year ended December 31, 2023” (the “2023 Annual Report”). In the 2023 Annual Report, Sportradar noted that it was “subject to a variety of U.S. and foreign laws on sports betting” and acknowledged that “[n]on-compliance with any such legislation or regulations could expose [it] to claims, legal or regulatory proceedings, license reviews, litigation and investigations by regulatory authorities, as well as substantial fines and negative publicity, each of which may materially and adversely affect [its] business” despite its purported “good faith efforts to comply with all local requirements.”

During the Class Period, the company touted the robustness of its due diligence, Know-Your-Customer (“KYC”) process, and overall legal and regulatory compliance, touting its “four-level process,” global compliance team, and acknowledging that non-compliance with relevant legislation and regulations would cause material negative impacts to Sportsradar on all fronts.

Notwithstanding Sportradar’s purported commitment to integrity and legal and regulatory compliance, on April 22, 2026, two market research firms—Muddy Waters Research (“Muddy Waters”) and Callisto Research (“Callisto”)—separately published investigative reports revealing that Sportradar intentionally utilized a network of black-market gambling partners to drive a material portion of its revenues. On this news, the price of Sportradar Class A ordinary shares plummeted $3.80 per share, or approximately 22.6%, from a close of $16.84 per share on April 21, 2026, to close at $13.04 per share on April 22, 2026.

The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Sportradar intentionally worked with black-market gambling operators to increase its revenues, despite its assurances of strict legal and regulatory compliance and claims that ethics and integrity were crucial for Sportradar’s operations; (2) the company’s KYC and compliance processes were not as robust as Defendants’ had claimed; and (3) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times. 

Current Status of Case:
On July 17, 2026, Motions to Appoint Lead Plaintiff and Lead Counsel were filed. This action is ongoing.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.