{"success":true,"data":{"pressRelease":{"id":"52838","rtpr_id":"nGNX4Dgd8X","ticker":"SRAD","exchange":"NASDAQ","all_tickers":["SRAD","1M4"],"title":"Sportradar Group AG (SRAD) Facing Securities Class Action Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout – Hagens Berman SRAD Investors with Losses Encouraged to Contact the Firm","author":"Globe Newswire","published_at":"2026-06-02T19:43:58.103Z","article_body":"SAN FRANCISCO, June 02, 2026 (GLOBE NEWSWIRE) -- Sportradar Group (NASDAQ:\nSRAD) faces a securities class action lawsuit, which seeks to represent\ninvestors who purchased or otherwise acquired Sportradar Class A ordinary\nshares between November 7, 2024 and April 21, 2026.\n\nThe lawsuit comes in the wake of the massive 22% collapse in the company\nshares on April 22, 2026, triggered by reports published by Muddy Waters\nResearch and Callisto Research that accused the company of misleading\ninvestors about the legality of its business model and revenue sources.\n\nHagens Berman is investigating the pending claims alleging Sportradar’s\npre-April 22 disclosures violated the federal securities laws. The firm\nencourages Sportradar investors who suffered substantial losses to submit your\nlosses now\n(https://www.globenewswire.com/Tracker?data=dBkPnnI76vHEDTXVB8fwlSn9UZ_PKInK5ovJGN1dO9RflVvB1MfLLKO6nnJh7xa2dhkayrbD_Dt-qDTaUw9UBhNOI_pvwIzj39Rz8lzBvxLg26Acz9QQ5Y1-vHDexqt5).\nThe firm also encourages persons with knowledge who may be able to assist the\ninvestigation to contact its attorneys.\n\nClass Period: Nov. 7, 2024 – Apr. 21, 2026\nLead Plaintiff Deadline: July 17, 2026\nVisit: www.hbsslaw.com/investor-fraud/srad \nContact the Firm Now: SRAD@hbsslaw.com \n844-916-0895\n\nSportradar Group AG (SRAD) Securities Class Action:\n\nThe lawsuit alleges that Sportradar misrepresented and failed to disclose that\nthe company intentionally worked with black-market gambling operators to\nincrease its revenues, despite its assurances of strict legal and regulatory\ncompliance and claims that ethics and integrity were crucial to the\ncompany’s operations.\n\nInvestors’ expectations about Sportradar’s business practices, including\npurported KYC and Code guardrails, were dashed on April 22, 2026. That day,\ntwo activist short seller firms published highly critical reports on\nSportradar’s business practices, each contradicting the company’s prior\nstatements.\n\nMuddy Waters Research conducted an undercover investigation, analyzed\nSportradar’s website code, and interviewed 15 current and former company\nemployees to reach its conclusion that “SRAD has actively aided and abetted\nillegal gambling across the world’s black and grey markets – not as an\naccident or an oversight, but as a business strategy.” The firm\n“estimate[d] that illegal operators today deliver approximately 20-40% of\ntotal revenues[]” to Sportradar. Muddy Waters said it “identified nearly\n50 companies as current or recent SRAD clients and collaborators who are\noperating in illegal markets.”\n\nFor its part, Callisto examined hundreds of gambling platforms and reported\nthat it found evidence that “over 270 individual platforms (more than a\nthird of the 800 Sportradar claims to serve) are using Sportradar’s products\nor services, or explicitly claiming to do so, while operating illegally in\nregulated or prohibited gambling markets.” Callisto also said “[m]any of\nthese operators have no license whatsoever[]” and “a senior former\nemployee we spoke to estimated the exposure to unlicensed operators could be\nas high as 30-40% of Sportradar’s revenue.”\n\nThe market swiftly reacted, wiping out over $800 million of Sportradar’s\nmarket capitalization in a single day.\n\n“We’re investigating the pending claims that, unbeknownst to investors,\nSportradar’s business practices were, in contrast to its claims, illegal,\nand whether the company may have recorded illegally obtained revenues,” said\nReed Kathrein\n(https://www.globenewswire.com/Tracker?data=hxHhVqLWsNOHlEXG__nTPKiFmDGnc2SiAom2muFwEQdHTCvv43szakAvxz-zfY9Uvg_1Q14NRJgzJLkUDgqd8hEYBsrIolNPB6UspAnxV-M5lorkkmo9BfEZqoQRfJvQ),\nthe Hagens Berman partner leading the firm’s investigation of the claims in\nthe pending suit.\n\nIf you invested in Sportradar and have substantial losses, or have knowledge\nthat will assist the firm’s investigation, submit your losses now\n(https://www.globenewswire.com/Tracker?data=dBkPnnI76vHEDTXVB8fwlSn9UZ_PKInK5ovJGN1dO9RmeyHQA1EFf-Cons_rSE6VqWdSIGr58ikBcwnLKHaVsjyjsK4rStfqWvPkzx3G9dbnm-8fAPNcpS57gMzE4iSS).\n\nIf you’d like more information and answers to frequently asked questions\nabout the Sportradar case and our investigation, read more\n(https://www.globenewswire.com/Tracker?data=591cMPuBrW3FsORgG--fahirwfRztXCwd4FpTwHE8fajDdxx_5ViIUFUjUY28MC6YUBRWLOp1wNzVHjMTGbC0eEOVZkQeYqNG1m0i2P-Qtk9RcjlUAXLQlTCdv8cHAseXG0pJxOEShIsU2Iq724ylhNClFPIfIZlXO0WKybQsVg=)\n»\n(https://www.globenewswire.com/Tracker?data=OxpAEGg65rSc0czqUrdFCGLugeUkucY4mhAUWyEiGbpToRs0JN54R9ofWVvXS7BtpI6ZlBV7Oo_G933z6YqtWM3GgDC8et-fA_cDoLEfcCy0U_2_JXb62BksCkMa6gW82fZtCvgoFLqcitDT16bJRg==)\n\nWhistleblowers: Persons with non-public information regarding Sportradar\nshould consider their options to help in the investigation or take advantage\nof the SEC Whistleblower program. Under the new program, whistleblowers who\nprovide original information may receive rewards totaling up to 30 percent of\nany successful recovery made by the SEC. For more information, call Reed\nKathrein at 844-916-0895 or email SRAD@hbsslaw.com.\n\nAbout Hagens Berman\n(https://www.globenewswire.com/Tracker?data=AyBEzNs5M007jmeocaZ6nGs6aG49znsCXYUC1Y6yJM8L1SioY6Ix5tdhODNX4MFoQ67uKujSXnOx-0mU3XU9_-l2VJ_n8RVIEEcvo9fzPsQ=)\nHagens Berman is a global plaintiffs’ rights complex litigation firm\nfocusing on corporate accountability. The firm is home to a robust practice\nand represents investors as well as whistleblowers, workers, consumers and\nothers in cases achieving real results for those harmed by corporate\nnegligence and other wrongdoings. Hagens Berman’s team has secured more than\n$2.9 billion in this area of law. More about the firm and its successes can be\nfound at hbsslaw.com\n(https://www.globenewswire.com/Tracker?data=ss5Z1ZBXkjdrbttvXLEt2s1MSHkohGEsOxNvbvJzIXX0jzgFGtDu3fKJZ-lX1J5FpCNr7WDOJXJxVaqodnAqcQ==).\nFollow the firm for updates and news at @ClassActionLaw.\n\nContact: \nReed Kathrein, 844-916-0895\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2c81cd72-0ffb-43c9-9d0f-b622c3e44e43)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX4Dgd8X","title":"Sportradar Group AG (SRAD) Facing Securities Class Action Amid Activist Short Seller Accusations of Illegal Business Model and $800 Million Market Cap Wipeout – Hagens Berman SRAD Investors with Losses Encouraged to Contact the Firm","author":"Globe Newswire","ticker":"SRAD","created":"2026-06-02T19:43:58.103Z","tickers":["SRAD","1M4"],"exchange":"NASDAQ","article_body":"SAN FRANCISCO, June 02, 2026 (GLOBE NEWSWIRE) -- Sportradar Group (NASDAQ:\nSRAD) faces a securities class action lawsuit, which seeks to represent\ninvestors who purchased or otherwise acquired Sportradar Class A ordinary\nshares between November 7, 2024 and April 21, 2026.\n\nThe lawsuit comes in the wake of the massive 22% collapse in the company\nshares on April 22, 2026, triggered by reports published by Muddy Waters\nResearch and Callisto Research that accused the company of misleading\ninvestors about the legality of its business model and revenue sources.\n\nHagens Berman is investigating the pending claims alleging Sportradar’s\npre-April 22 disclosures violated the federal securities laws. The firm\nencourages Sportradar investors who suffered substantial losses to submit your\nlosses now\n(https://www.globenewswire.com/Tracker?data=dBkPnnI76vHEDTXVB8fwlSn9UZ_PKInK5ovJGN1dO9RflVvB1MfLLKO6nnJh7xa2dhkayrbD_Dt-qDTaUw9UBhNOI_pvwIzj39Rz8lzBvxLg26Acz9QQ5Y1-vHDexqt5).\nThe firm also encourages persons with knowledge who may be able to assist the\ninvestigation to contact its attorneys.\n\nClass Period: Nov. 7, 2024 – Apr. 21, 2026\nLead Plaintiff Deadline: July 17, 2026\nVisit: www.hbsslaw.com/investor-fraud/srad \nContact the Firm Now: SRAD@hbsslaw.com \n844-916-0895\n\nSportradar Group AG (SRAD) Securities Class Action:\n\nThe lawsuit alleges that Sportradar misrepresented and failed to disclose that\nthe company intentionally worked with black-market gambling operators to\nincrease its revenues, despite its assurances of strict legal and regulatory\ncompliance and claims that ethics and integrity were crucial to the\ncompany’s operations.\n\nInvestors’ expectations about Sportradar’s business practices, including\npurported KYC and Code guardrails, were dashed on April 22, 2026. That day,\ntwo activist short seller firms published highly critical reports on\nSportradar’s business practices, each contradicting the company’s prior\nstatements.\n\nMuddy Waters Research conducted an undercover investigation, analyzed\nSportradar’s website code, and interviewed 15 current and former company\nemployees to reach its conclusion that “SRAD has actively aided and abetted\nillegal gambling across the world’s black and grey markets – not as an\naccident or an oversight, but as a business strategy.” The firm\n“estimate[d] that illegal operators today deliver approximately 20-40% of\ntotal revenues[]” to Sportradar. Muddy Waters said it “identified nearly\n50 companies as current or recent SRAD clients and collaborators who are\noperating in illegal markets.”\n\nFor its part, Callisto examined hundreds of gambling platforms and reported\nthat it found evidence that “over 270 individual platforms (more than a\nthird of the 800 Sportradar claims to serve) are using Sportradar’s products\nor services, or explicitly claiming to do so, while operating illegally in\nregulated or prohibited gambling markets.” Callisto also said “[m]any of\nthese operators have no license whatsoever[]” and “a senior former\nemployee we spoke to estimated the exposure to unlicensed operators could be\nas high as 30-40% of Sportradar’s revenue.”\n\nThe market swiftly reacted, wiping out over $800 million of Sportradar’s\nmarket capitalization in a single day.\n\n“We’re investigating the pending claims that, unbeknownst to investors,\nSportradar’s business practices were, in contrast to its claims, illegal,\nand whether the company may have recorded illegally obtained revenues,” said\nReed Kathrein\n(https://www.globenewswire.com/Tracker?data=hxHhVqLWsNOHlEXG__nTPKiFmDGnc2SiAom2muFwEQdHTCvv43szakAvxz-zfY9Uvg_1Q14NRJgzJLkUDgqd8hEYBsrIolNPB6UspAnxV-M5lorkkmo9BfEZqoQRfJvQ),\nthe Hagens Berman partner leading the firm’s investigation of the claims in\nthe pending suit.\n\nIf you invested in Sportradar and have substantial losses, or have knowledge\nthat will assist the firm’s investigation, submit your losses now\n(https://www.globenewswire.com/Tracker?data=dBkPnnI76vHEDTXVB8fwlSn9UZ_PKInK5ovJGN1dO9RmeyHQA1EFf-Cons_rSE6VqWdSIGr58ikBcwnLKHaVsjyjsK4rStfqWvPkzx3G9dbnm-8fAPNcpS57gMzE4iSS).\n\nIf you’d like more information and answers to frequently asked questions\nabout the Sportradar case and our investigation, read more\n(https://www.globenewswire.com/Tracker?data=591cMPuBrW3FsORgG--fahirwfRztXCwd4FpTwHE8fajDdxx_5ViIUFUjUY28MC6YUBRWLOp1wNzVHjMTGbC0eEOVZkQeYqNG1m0i2P-Qtk9RcjlUAXLQlTCdv8cHAseXG0pJxOEShIsU2Iq724ylhNClFPIfIZlXO0WKybQsVg=)\n»\n(https://www.globenewswire.com/Tracker?data=OxpAEGg65rSc0czqUrdFCGLugeUkucY4mhAUWyEiGbpToRs0JN54R9ofWVvXS7BtpI6ZlBV7Oo_G933z6YqtWM3GgDC8et-fA_cDoLEfcCy0U_2_JXb62BksCkMa6gW82fZtCvgoFLqcitDT16bJRg==)\n\nWhistleblowers: Persons with non-public information regarding Sportradar\nshould consider their options to help in the investigation or take advantage\nof the SEC Whistleblower program. Under the new program, whistleblowers who\nprovide original information may receive rewards totaling up to 30 percent of\nany successful recovery made by the SEC. For more information, call Reed\nKathrein at 844-916-0895 or email SRAD@hbsslaw.com.\n\nAbout Hagens Berman\n(https://www.globenewswire.com/Tracker?data=AyBEzNs5M007jmeocaZ6nGs6aG49znsCXYUC1Y6yJM8L1SioY6Ix5tdhODNX4MFoQ67uKujSXnOx-0mU3XU9_-l2VJ_n8RVIEEcvo9fzPsQ=)\nHagens Berman is a global plaintiffs’ rights complex litigation firm\nfocusing on corporate accountability. The firm is home to a robust practice\nand represents investors as well as whistleblowers, workers, consumers and\nothers in cases achieving real results for those harmed by corporate\nnegligence and other wrongdoings. Hagens Berman’s team has secured more than\n$2.9 billion in this area of law. More about the firm and its successes can be\nfound at hbsslaw.com\n(https://www.globenewswire.com/Tracker?data=ss5Z1ZBXkjdrbttvXLEt2s1MSHkohGEsOxNvbvJzIXX0jzgFGtDu3fKJZ-lX1J5FpCNr7WDOJXJxVaqodnAqcQ==).\nFollow the firm for updates and news at @ClassActionLaw.\n\nContact: \nReed Kathrein, 844-916-0895\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2c81cd72-0ffb-43c9-9d0f-b622c3e44e43)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-06-02T19:43:58.138888101Z","server_sent_at_ms":1780429438138},"received_at":"2026-06-02T19:43:58.205Z","source_url":null},"analysis":{"id":"42270","press_release_id":"52838","analysis_json":{"industry":{"label":"Software","sector":"Information Technology"},"redFlags":[],"eventType":"legal_litigation","narrative":"Hagens Berman issued a press release soliciting investors who suffered losses in Sportradar (SRAD) to contact the firm regarding a pending securities class action.\n\nThe lawsuit stems from April 2026 reports by short sellers Muddy Waters and Callisto, which accused Sportradar of facilitating illegal gambling and misrepresenting its business model.\n\nThe release highlights a 22% stock drop and an $800 million market cap wipeout following the reports, but contains no new disclosure from Sportradar itself.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress."},"keyFigures":{"customDimensions":{"stock_drop_pct":"22%","market_cap_wipeout":"$800 million","illegal_revenue_estimate":"20-40%"}},"quotedText":"We’re investigating the pending claims that, unbeknownst to investors, Sportradar’s business practices were, in contrast to its claims, illegal, and whether the company may have recorded illegally obtained revenues","namedEntities":{"people":[{"name":"Reed Kathrein","role":"Partner, Hagens Berman"}],"products":[],"companies":[{"name":"Sportradar Group AG","ticker":"SRAD","relationship":"defendant/target"},{"name":"Hagens Berman","relationship":"plaintiff law firm"},{"name":"Muddy Waters Research","relationship":"short seller"},{"name":"Callisto Research","relationship":"short seller"}],"dollarAmounts":[{"amount":"$800 million","context":"market capitalization wiped out in a single day"},{"amount":"$2.9 billion","context":"total secured by Hagens Berman in similar cases"}]},"materialImpact":{"score":1,"reasoning":"This is a plaintiff law-firm solicitation issued by Hagens Berman, not an issuer disclosure. It serves to recruit shareholders for a class action regarding prior short-seller reports. Per guardrails, such solicitations are low-impact noise unless a class is certified or a major settlement is announced."},"tickerRelevance":{"others":[],"primary":"SRAD"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"context":"Short-seller controversy is material, but this specific wire is low-signal marketing","tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Hagens Berman issued a press release soliciting investors who suffered losses in Sportradar (SRAD) to contact the firm regarding a pending securities class action.\n\nThe lawsuit stems from April 2026 reports by short sellers Muddy Waters and Callisto, which accused Sportradar of facilitating illegal gambling and misrepresenting its business model.\n\nThe release highlights a 22% stock drop and an $800 million market cap wipeout following the reports, but contains no new disclosure from Sportradar itself.","key_figures":{"customDimensions":{"stock_drop_pct":"22%","market_cap_wipeout":"$800 million","illegal_revenue_estimate":"20-40%"}},"named_entities":{"people":[{"name":"Reed Kathrein","role":"Partner, Hagens Berman"}],"products":[],"companies":[{"name":"Sportradar Group AG","ticker":"SRAD","relationship":"defendant/target"},{"name":"Hagens Berman","relationship":"plaintiff law firm"},{"name":"Muddy Waters Research","relationship":"short seller"},{"name":"Callisto Research","relationship":"short seller"}],"dollarAmounts":[{"amount":"$800 million","context":"market capitalization wiped out in a single day"},{"amount":"$2.9 billion","context":"total secured by Hagens Berman in similar cases"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-06-02T19:44:43.623Z","global_importance":15,"audience_relevance":10,"importance_components":{"context":"Short-seller controversy is material, but this specific wire is low-signal marketing","tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"durationMs":45405,"modelName":"george-droid-qwen-72b"}}