Ex-DraftKings exec likely took trade secrets but can remain at Fanatics: judge [Reuters]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Reuters
Fanatics after finding he likely misappropriated valuable trade secrets before taking a new job. U.S. District Judge Julia Kobick in Boston stopped short of barring Michael Hermalyn from working for Fanatics, as DraftKings wanted after he quit his job to help build out its rival's nascent team catering to "VIP" clients. But Kobick enjoined him for a 12-month time period starting when he began his new job on Feb. 1 from providing services relating to any aspects of DraftKings' business that he was involved in or for which he had received confidential information. Kobick said the was warranted as the evidence showed that Hermalyn had likely violated a non-compete agreement he signed while working at DraftKings and had misappropriated its confidential information before leaving to become the president of Fanatics' VIP program. A spokesperson for Fanatics, which is not a defendant, in a statement said it was a "bit dismayed at the breadth of the court's ruling" but appreciated tha
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- 5/2/24 - Beat
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Sec Filings
- 5/17/24 - Form 8-K
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- DKNG's page on the SEC website