Block & Leviton served as co-lead counsel on behalf of former stockholders of Golden Nugget Online Gaming Inc. (“GNOG”) in a class action challenging the $1.56 billion all-stock sale of GNOG to DraftKings, Inc. The litigation involved allegations that GNOG’s controlling stockholder, Tilman J. Fertitta, obtained unique consideration in the form of various side deals at the expense of the company’s minority stockholders. The Delaware Court of Chancery denied defendants’ motion to dismiss from the bench, and Block & Leviton later achieved a $22 million cash settlement of the action, which was subsequently approved by the Court.
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