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Hoosier law firm seeking suit against fantasy sports giants

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INDIANAPOLIS, Ind.--An Indianapolis law firm is looking to sue fantasy football giants, Draft Kings and Fan Duel. This is the latest in a series of legal actions against the billion dollar companies.

More than 20 lawsuits have been filed against the fantasy sports sites across the country since October. The suits allege everything from fraud and false advertising to illegal gambling. Attorneys at Cohen & Malad are now looking for Hoosiers that may have lost money on the sites because of unfair advantages by other users.

Both websites advertise big payouts, but as we've previously reported, the chances of actually winning are very small. Now the law firm wants to hear the stories of Hoosiers and how they may have been negatively affected.

"It started with a $100 million advertising campaign they launched, I believe, at the beginning of the football season to come play their game," said Lynn Toops, an partner at Cohen & Malad. "It's a game of skill. Everyone had a fair chance of winning. If you pay this entry fee, you could win a big pot of money if the team you select wins. It turns out, unbeknownst to the customer, employees of Draft Kings have insider information that they obtained by virtue of working for Draft Kings. They then used that to go play Fan Duel, and win. Same thing was happening with Fan Duel employees."

The Indiana State Legislature is looking at regulating the fantasy sports industry in the upcoming session. So far, Nevada is the only state that has ruled online gambling sites illegal.