Levi & Korsinsky, LLP alerts investors in Sportradar Group AG (NASDAQ: SRAD) that two senior executives are named as individual defendants in a securities class action covering purchases between November 7, 2024, and April 21, 2026. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
Sportradar shares fell $3.80 per share, approximately 22.6%, closing at $13.04 on April 22, 2026, after investigative reports exposed the Company’s alleged intentional partnerships with illegal gambling operators worldwide. The Court has set July 17, 2026 as the deadline to apply for lead plaintiff appointment.
The Named Individual Defendants
Carsten Koerl, Sportradar’s Founder and Chief Executive Officer, and Craig Felenstein, the Company’s Chief Financial Officer, are both named as defendants under Section 20(a) of the Securities Exchange Act of 1934. Both executives served in their respective roles throughout the entire Class Period and possessed authority over the Company’s SEC filings, press releases, and investor communications.
Section 20(a) Control Person Framework
The complaint asserts that Koerl and Felenstein, by virtue of their senior positions, controlled the content of Sportradar’s public disclosures. Section 20(a) imposes liability on individuals who exercise control over persons or entities that violate Section 10(b). The action contends that both executives had access to material non-public information about Sportradar’s relationships with black-market gambling operators and failed to ensure that public statements accurately reflected the Company’s compliance posture.
Sarbanes-Oxley Certification Obligations
Both Koerl and Felenstein signed and certified Sportradar’s annual reports on Form 20-F for fiscal years 2023, 2024, and 2025. Under Sections 302 and 906 of the Sarbanes-Oxley Act, these certifications personally attested to the completeness and accuracy of the Company’s financial disclosures.
- Koerl signed and certified the 2023, 2024, and 2025 Annual Reports on Form 20-F, each of which represented that Sportradar had obtained all necessary licenses and maintained compliance with applicable gambling regulations
- Felenstein signed quarterly Form 6-Ks filed during the Class Period, each referencing risk factors that the lawsuit alleges were materially incomplete
- Both executives certified that disclosures did not contain untrue statements of material fact or omit material facts necessary to avoid misleading investors
- The complaint charges that neither executive disclosed Sportradar’s alleged intentional partnerships with over 270 platforms operating illegally across prohibited markets
- Koerl personally appeared on national television likening Sportradar to law enforcement while the Company allegedly served known illegal operators including the Yabo Group and 1xBet
“Corporate officers have a duty to ensure their companies’ public statements are accurate and complete. When executives personally certify SEC filings, they bear individual responsibility for the truthfulness of those disclosures.” — Joseph E. Levi, Esq.
Speak with an attorney about whether you can recover investment losses or call (212) 363-7500.
WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services’ Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors.
Frequently Asked Questions About the SRAD Lawsuit
Q: Who are the defendants named in the SRAD lawsuit? A: The complaint names Sportradar Group AG and individual defendants Carsten Koerl (CEO) and Craig Felenstein (CFO), who signed SEC filings and certified financial disclosures under Sarbanes-Oxley throughout the Class Period.
Q: What is the SRAD lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is July 17, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.
Q: What do SRAD investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I already sold my SRAD shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the Class Period and sold at a loss may still participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260616295536/en/
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