ALBANY, N.Y. — New York’s high court rules that an appellate division properly applied Scottish law when evaluating claims brought by more than 100 shareholders in the online gambling company FanDuel, who say the company’s preferred shareholders tipped the scales in their own favor during a merger with Paddy Power Betfair, another betting firm. The lower court should not have dismissed the complaint, however, because the suing shareholders offered an inference of limited fiduciary, cognizable by Scottish courts, to support their cause of action.
Read the ruling here.
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