Former DraftKings Executive Responds to Accusations of Company Secrets Misuse, Denounces ‘False’ Allegations


Posted on: February 8, 2024, 08:27h. 

Last updated on: February 8, 2024, 08:27h.

A former executive at leading sports betting platform DraftKings has been accused of corporate espionage. The executive has vehemently denied the allegations, claiming that they are entirely false.

Michael Hermalyn, DraftKings, Fanatics, Michael Rubin, corporate espionage
Michael Hermalyn, pictured in 2017 during an interview with Cheddar.com. He denies plotting to join Fanatics and sharing sensitive DraftKings data with his new employer. (Image: Cheddar)

DraftKings filed a lawsuit against Michael Hermalyn, the company’s former senior vice-president of Growth, alleging that he conspired for over a year to join competitor Fanatics. The lawsuit maintains that he planned to take confidential information about DraftKings VIP clients and its Super Bowl business strategy with him.

Hermalyn disputes these claims, describing them as baseless and disappointing. He also denied having any discussions about employment with Fanatics before January 27, 2014, or sharing any documents with the company after his resignation from DraftKings.

Furthermore, Hermalyn refutes an allegation that he falsely claimed to be grieving the death of a friend in order to travel to Los Angeles for contract negotiations, deeming it “horrid.”

DraftKings argued in the lawsuit that Hermalyn sought to establish residency in California so that he could challenge non-compete agreements, which the executive claims was an emotional and challenging time for him.

These claims and counterclaims come amid a contentious legal battle in the sports betting industry, adding another layer of intrigue to the high-stakes competition between major players.



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