Evolution Shares Tumble After Lawyer Alleges Illegal Wagers
- Attorney represents an anonymous competitor of Evolution
- Company says it is in compliance with all applicable laws
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Online gambling giant Evolution AB is accused by an anonymous competitor of operating illegally in some markets and doing business in countries that are under U.S. sanctions.
Ralph Marra, a senior counsel at Calcagni & Kanefsky LLP, made the complaint in a letter Nov. 12 to the New Jersey Division of Gaming Enforcement, a copy of which was provided to Bloomberg News. Marra said he was writing on behalf of private investigators he didn’t name. The investigators were retained by a U.S.-based competitor of Evolution, according to people with knowledge of the matter who asked not to be identified.