Sportradar CEO calls attack personal as law firms circle
- Carsten Koerl has published an open letter on LinkedIn rejecting the short seller allegations as “entirely false, poorly researched, deliberately taken out of context,” and describing the campaign as a personal attack on his reputation.
- At least six US law firms have announced investigations into Sportradar (NASDAQ: SRAD) following the approximately 22% share price fall on 22 April.
- Sportradar has moved its Q1 2026 earnings call forward to 28 April, nine days ahead of the originally scheduled 6 May date.
Sportradar (NASDAQ: SRAD) CEO Carsten Koerl has published an open letter to shareholders, partners, and the sports community, rejecting the short seller reports from Muddy Waters Research and Callisto Research as an unfounded attack designed to panic investors and profit from stock disruption.
The open letter comes as at least six US plaintiff law firms announce securities investigations and Sportradar moves its earnings disclosure forward to this Tuesday, 28 April.
Koerl’s open letter
Koerl positioned the allegations not just as a challenge to Sportradar’s business model but as an assault on his own reputation, describing the claims as “false, misleading and defamatory.”
“Short seller reports launched an unfounded attack on Sportradar designed to create panic, place downward pressure on our stock price, and profit from the disruption,” Koerl said.
“I take this as a personal attack considering my position and responsibility I have for investors, clients, partners and employees.”
He said the claims are “either entirely false, poorly researched, deliberately taken out of context or, at best, repackaging the same tired stories we have heard for years.”
On compliance, Koerl defended the company’s internal processes.
“We are committed to full compliance with the applicable laws and regulations in each jurisdiction where we operate. If there is an issue with a client in our portfolio, we have a robust compliance infrastructure in place to act immediately. We take this so seriously that we created a division dedicated solely to finding bookmakers who attempt to use our data illegally.”
He also addressed personal allegations in the reports, including claims linking him to Russian oligarchs through a former shareholding in Liga Stavok.
“I believe these were thrown in to promote controversy and take advantage of the current news cycle. I bought shares in Liga Stavok, a licensed, regulated entity, several years ago, and when it no longer felt appropriate to invest in something perceived to be connected to a geopolitical conflict, I sold it. I made no profit from my original stake. To frame this as anything other than a principled exit is unfounded.”
Earnings call brought forward
In a development that adds further urgency, Sportradar announced on 24 April it has moved its Q1 2026 earnings release and investor webcast to 28 April, nine days earlier than the previously scheduled 6 May date, with the call set for 8:00 a.m. Eastern Time.
Investors will be listening closely to how the company discusses its compliance framework and its partnerships — including the extended FIFA integrity agreement — in the context of the allegations and the wider regulatory risk around its data and betting operations.
Six firms announce probes
The share price fall has prompted a wave of plaintiff law firm activity across the US, with at least six firms announcing securities investigations since 22 April.
Kessler Topaz Meltzer & Check, LLP published its notice on 26 April, stating it is investigating potential violations of federal securities laws on behalf of investors who experienced significant financial losses.
Holzer & Holzer, LLC announced its investigation on 23 April, examining whether Sportradar complied with federal securities laws.
Bleichmar Fonti & Auld LLP is investigating potential securities fraud relating to the allegation that Sportradar aided and abetted illegal gambling and derived a substantial portion of its revenue from such activities.
Hagens Berman, Kirby McInerney, and Bronstein Gewirtz & Grossman have each announced parallel probes. Hagens Berman has also encouraged potential whistleblowers to come forward, noting that those who provide original information to the SEC may receive rewards of up to 30% of any successful recovery.
Sportradar maintains it works exclusively with licensed operators and stands by its financial disclosures and risk statements.
Tuesday’s earnings call will be closely watched by investors, league partners, and regulators for management’s direct response to the compliance questions raised — and any indication of how the company intends to address the legal pressure now building around it.
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