Yahoo has been issued a subpoena in a New York state investigation into daily fantasy sports games, sources close to the case said Thursday.
New York state investigators are looking into Yahoo's daily fantasy sports games to determine if they should be targeted for illegal gambling along with other operators, sources said Wednesday.
Fantasy sports websites DraftKings and FanDuel filed lawsuits on Friday seeking to avert a shutdown ordered by New York state officials, setting up a legal showdown.
Daily fantasy sports companies suffered another blow this week as authorities in Nevada deemed them gambling enterprises and ordered them to suspend operations in the state until they have proper licenses.
DraftKings, a leading player in the booming fantasy sports business, announced Monday that it raised $300 million from a group of investors that includes Fox Sports and three major sports leagues.
Tech company Yahoo is entering the realm of daily fantasy sports contests with a new product called Yahoo Sports Daily Fantasy.
Fantasy sports were once just a fun way for diehard fans to express their love of the game together with other zealots, without actually getting out on the field themselves.
Fantasy sports players can spend thousands of dollars and certainly that many hours developing sophisticated leagues and playing strategies steeped in analysis and superstition—all for teams that aren't real.
Yahoo on Friday said it bought social web-browsing startup Rockmelt, extending a buying spree started shortly after Marissa Mayer became chief last year.
Yahoo on Wednesday said it bought e-commerce platform start-up Lexity, racking up its 20th acquisition since Marissa Mayer became chief last year.