Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of Trident Acquisitions Corp. (“Trident”) (NASDAQ: TDAC); n/k/a Lottery.com Inc. (“Lottery.com”) (NASDAQ: LTRY) breached their fiduciary duties to Trident’s shareholders. If you were a Trident shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
Scott+Scott is investigating whether Trident’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether Trident’s shareholders suffered damages as a result.
On October 28, 2021, Trident shareholders of record as of October 13, 2021 approved a merger between Trident and Lottery.com.
In July 2022, Lottery.com fired its Chief Financial Officer after accounting irregularities were uncovered. Soon thereafter, Lottery.com’s Chief Revenue Officer resigned, after Lottery.com discovered “instances of non-compliance with state and federal laws concerning the state in which tickets are procured.” Lottery.com also announced it had overstated its cash holdings by $30 million. In September 2022, four directors resigned from Lottery.com’s board, with several directors claiming that Lottery.com thwarted their attempts to look into red flags at the company.
The stock price has declined by over 99.7% since the merger, with shares currently trading at $0.29/share.
What You Can Do
If you were a Trident shareholder, you may have legal claims against Trident’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
About Scott+Scott
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
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