Daily Fantasy False Ad Settlements Tough Pill to Swallow
Dan Etna was quoted in Law360 regarding daily fantasy companies DraftKings and FanDuel agreeing to pay $12 million to settle a lawsuit accusing them of false advertising. Each company will pay its $6 million payment in yearly installments from 2016 to 2019. “It seems neither DFS company could come up with the fine amount in a lump sum so they asked to pay the fine over time, which is not an uncommon request,” Etna told the publication. “But that said, the lack of liquidity questions whether each DFS site can continue on a standalone basis, suggesting a merger might be the logical next step."