Philadelphia, Pennsylvania--(Newsfile Corp. - August 23, 2023) - A securities fraud class action alleges that Lottery.com (NASDAQ: LTRY), via certain of its officers and directors, made materially false or misleading statements and/or failed to disclose material information. The Complaint further alleges that: (i) the Company lacked adequate internal accounting controls; (ii) the Company lacked adequate internal controls over financial reporting, including but not limited to those pertaining to revenue recognition and the reporting of cash; (iii) the Company was not in compliance with state and federal laws governing the sale of lottery tickets; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Current Lottery.com shareholders who have held Lottery.com shares since on or before November 19, 2020, or held shares of TDAC as of October 28, 2021 and who hold LTRY today, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.
If you would like to learn more about this matter, you are encouraged to contact us at jgrabar@grabarlaw.com, visit https://grabarlaw.com/the-latest/lottery-com-shareholder-investigation/, or call 267-507-6085.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178242
