[longcrab]

As far as I remember, there was debate around that valuation.

"Early investors filed suit in New York against FanDuel's board for breach of fiduciary duty in allegedly undervaluing FanDuel to enrich themselves." ( FanDuel Wikipedia )

There was some unusual relationships in the deal, and the valuation of the company post-purchase was dramatically larger.

Not sure if suit is public, but article:

"The new lawsuit claims that the board – which allegedly included only one independent director and six directors tied to KKR and Shamrock – priced the value of FanDuel’s stake in the merged company at about $559 million. That number, the suit alleges, was no coincidence. Under FanDuel’s operative bylaws, preferred shareholders were due to receive all of the first $559 million from any merger."[1]

[1] https://www.reuters.com/article/us-otc-fanduel/fanduel-found... ( "juicy tale?" )

[sokoloff]

It seems like the suit was settled in FanDuel's favor/against the early investors/employees.

https://archive.is/vAaKC