Within its release, the SEC noted that since the same information wasn’t disclosed to all investors, this violated Regulation Fair Disclosure, so a civil penalty was issued to DraftKings to settle the charges.
In an order dated 26 September, the SEC stated that on 27 July 2023, DraftKings’ public relations firm published a post on Robins’ personal X and LinkedIn accounts.
The X post read: “There’s massive potential for growth in new markets — but we’re still seeing really strong growth in existing states. Our 2018-2019 state vintage grew over 80% on the revenue basis year-over-year in Q1. With those numbers, we expect robust growth even without new states opening.”
A similar statement was also published on the DraftKings CEO’s personal LinkedIn..