HBSS Investigates Sportradar Group AG (SRAD) Securities Class Action Claims After Short Seller Reports Expose Alleged Illegal Gambling Ties

SAN FRANCISCO, June 29, 2026 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP (HBSS), a leading national securities litigation firm, is investigating claims in a securities class action lawsuit against Sportradar Group (NASDAQ: SRAD) and its executives. The lawsuit is brought on behalf of investors who purchased or otherwise acquired Sportradar Class A ordinary shares between November 7, 2024 and April 21, 2026, and suffered financial losses.

The lawsuit follows the dramatic 22% single day collapse in SRAD stock price on April 22, 2026, triggered by damaging investigative reports from Muddy Waters Research and Callisto Research. These reports accused the company of deceiving investors about the legality of its core business model and true sources of its revenue.

Hagens Berman is actively investigating the claims that Sportradar violated federal securities laws. Investors who lost money on Sportradar stock (SRAD) are encouraged to submit your losses now to learn about their legal options and potential recovery. Individuals with insider knowledge or information relevant to the Hagens Berman investigation are also urged to contact the firm's attorneys.

View our latest video summary of the allegations: youtu.be/90cf7_368dk

Class Period: Nov. 7, 2024 – Apr. 21, 2026
Lead Plaintiff Deadline: July 17, 2026
Visit: www.hbsslaw.com/investor-fraud/srad
Contact the Firm Now: [email protected]
                                         844-916-0895

What is the Sportradar Group AG (SRAD) Securities Class Action About?

The class action lawsuit alleges that Sportradar misrepresented and concealed that the company deliberately partnered with black-market unlicensed gambling operators to inflate its revenues, despite publicly touting strict legal and regulatory compliance and claiming that ethics and integrity were foundational to the company's operations.

Investors' confidence in Sportradar's business practices, including its purported KYC and Code of Conduct, was shattered on April 22, 2026, when two prominent short seller firms published detailed investigative reports that directly contradicted Sportradar's prior statements about compliance and corporate governance.

Muddy Waters Research conducted an undercover investigation, analyzed Sportradar's website code, and interviewed 15 current and former company employees to reach its conclusion that "SRAD has actively aided and abetted illegal gambling across the world's black and grey markets – not as an accident or an oversight, but as a business strategy." The firm "estimate[d] that illegal operators today deliver approximately 20-40% of total revenues[]" to Sportradar. Muddy Waters said it "identified nearly 50 companies as current or recent SRAD clients and collaborators who are operating in illegal markets."

For its part, Callisto examined hundreds of gambling platforms and reported that it found evidence that "over 270 individual platforms (more than a third of the 800 Sportradar claims to serve) are using Sportradar's products or services, or explicitly claiming to do so, while operating illegally in regulated or prohibited gambling markets." Callisto also said "[m]any of these operators have no license whatsoever[]" and "a senior former employee we spoke to estimated the exposure to unlicensed operators could be as high as 30-40% of Sportradar's revenue."

The market swiftly reacted, wiping out over $800 million of Sportradar's market capitalization in a single day.

"Hagens Berman is investigating the lawsuit's claims that Sportradar concealed an illegal business strategy from investors and may have booked revenues derived from unlawful gambling operations," said Reed Kathrein, the Hagens Berman partner leading the firm's Sportradar securities fraud investigation.

If you are a Sportradar (SRAD) investor who suffered substantial losses, or if you have information that could assist Hagens Berman's investigation, contact the firm now.

For information about the Sportradar class action lawsuit and and answers to frequently asked questions, read more »

Whistleblowers: Persons with non-public information regarding Sportradar should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case. 

SOURCE Hagens Berman Sobol Shapiro LLP