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UPDATE: Statement from A.G. Schneiderman on agreements with FanDuel and DraftKings

Submitted

Tue, Mar 22nd 2016 10:15 am

Attorney General Eric T. Schneiderman issued the following statement Monday on his agreement with FanDuel and DraftKings:

"I'm pleased to announce that both FanDuel and DraftKings will stop taking bets in New York state, consistent with New York state law and the cease-and-desist orders my office issued at the outset of this matter. As I've said from the start, my job is to enforce the law, and starting today, DraftKings and FanDuel will abide by it. Today's agreement also creates an expedited path to resolve this litigation should that law change or upon a decision by the appellate division. Regardless, our key claims against the companies for false advertising and consumer fraud are not affected by the agreement and will continue."

Copies of the agreements can be found HERE and HERE.

Schneiderman issued the following statement Tuesday on Yahoo Daily Fantasy Sports:

"Following yesterday's announcement that FanDuel and DraftKings will follow the law and stop taking bets in New York state, Yahoo has now informed my office that it will do the same. New York law has long prohibited sports wagering, including betting on daily fantasy sports. As long as that's the case, I will continue to enforce the law vigorously, and I am glad these companies have agreed to follow it."

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