Law firms Hagens Berman and Glancy Prongay cited short-seller reports alleging Sportradar derived revenue from illegal gambling operators, after SRAD fell about 22% on April 22, 2026.
Law firms Hagens Berman Sobol Shapiro LLP and Glancy Prongay Wolke & Rotter LLP said investors who bought Sportradar Group AG Class A ordinary shares between November 7, 2024 and April 21, 2026 have until July 17, 2026 to seek appointment as lead plaintiff in a proposed securities class action. The case followed April 22, 2026 reports from Muddy Waters Research, and separately Callisto Research, alleging Sportradar misled investors about compliance and revenue sources by working with black-market or unlicensed gambling operators. After the reports, SRAD shares fell 22% to 22.6% in one session, dropping $3.80 to $13.04 and erasing more than $800 million in market value, according to the releases. The complaint alleges Sportradar intentionally worked with illegal operators to increase revenue, that its KYC and compliance controls were not as robust as claimed, and that positive statements about the business therefore lacked a reasonable basis.