• Home
  • News
    • PRESS RELEASE
  • Shop
  • BUSINESS
    • CRYPTO
    • ECONOMY
    • FINANCE
    • MARKET
    • MONEY
  • TECH
    • APPS
    • GADGET
    • MOBILE
    • SCIENCE
  • SOCIAL MEDIA
  • ENTERTAINMENT
    • ARTS & THEATER
    • GAMING
    • GAMBLING
    • MOVIE
    • MUSIC
    • SHOWS
    • SPORTS
  • LIFESTYLE
    • CELEBRITY
    • CULTURE
    • Education
    • FASHION
    • FOOD
    • HEALTH
    • HISTORY
    • Nature
    • Religion
    • Shopping
    • TRAVEL
  • REAL ESTATE
  • Blog
  • Classifieds
  • Home
  • News
    • PRESS RELEASE
  • Shop
  • BUSINESS
    • CRYPTO
    • ECONOMY
    • FINANCE
    • MARKET
    • MONEY
  • TECH
    • APPS
    • GADGET
    • MOBILE
    • SCIENCE
  • SOCIAL MEDIA
  • ENTERTAINMENT
    • ARTS & THEATER
    • GAMING
    • GAMBLING
    • MOVIE
    • MUSIC
    • SHOWS
    • SPORTS
  • LIFESTYLE
    • CELEBRITY
    • CULTURE
    • Education
    • FASHION
    • FOOD
    • HEALTH
    • HISTORY
    • Nature
    • Religion
    • Shopping
    • TRAVEL
  • REAL ESTATE
  • Blog
  • Classifieds
No Result
View All Result
No Result
View All Result
Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of Lottery.com, Inc. (LTRY) Investors

Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of Lottery.com, Inc. (LTRY) Investors

Utah Digital News by Utah Digital News
August 22, 2022
in PRESS RELEASE
0
Share on FacebookShare on Twitter


NEW YORK–(BUSINESS WIRE)–The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Lottery.com, Inc. (“Lottery.com” or the “Company”) (NASDAQ: LTRY) securities from November 15, 2021 through July 29, 2022, both dates inclusive (the “Class Period”). Investors have until October 18, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Lottery.com operates as a lottery service company. As an independent third-party lottery game service, it develops and operates a platform which enables the remote purchase of legally sanctioned lottery games.

On July 29, 2022, in a Form 8-K filed with the SEC, the Company informed the market that it did not have “sufficient financial resources to fund its operations or pay certain existing obligations,” and that it therefore intended to furlough certain employees effective July 29, 2022. Moreover, because Lottery.com’s resources were not sufficient to fund its operations for a twelve-month period, “there is substantial doubt about the Company’s ability to continue as a going concern,” and the Company may be forced to wind down its operations or pursue liquidation of the Company’s assets. On this news, the price of Lottery.com shares declined by $0.52 per share, or approximately 64.2%, from $0.81 per share to close at $0.29 on July 29, 2022.

The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that, inter alia: (1) the Company lacked adequate internal accounting controls; (2) the Company lacked adequate internal controls over financial reporting, including but not limited to those pertaining to revenue recognition and the reporting of cash; (3) the Company was not in compliance with state and federal laws governing the sale of lottery tickets; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

If you purchased or otherwise acquired Lottery.com securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.



Source link

You might also like

White River Energy and BitNile Holdings’ Subsidiary, Ault Energy, Announce Results From Recently Completed Drilling Project in Holmes County, MS

White River Energy and BitNile Holdings’ Subsidiary, Ault Energy, Announce Results From Recently Completed Drilling Project in Holmes County, MS

December 6, 2022
Mainz Biomed Announces IRB Approval and Initiation of US

Mainz Biomed Announces IRB Approval and Initiation of US

December 6, 2022
Utah Digital News

Utah Digital News

Related Stories

White River Energy and BitNile Holdings’ Subsidiary, Ault Energy, Announce Results From Recently Completed Drilling Project in Holmes County, MS

White River Energy and BitNile Holdings’ Subsidiary, Ault Energy, Announce Results From Recently Completed Drilling Project in Holmes County, MS

by Utah Digital News
December 6, 2022
0

LAS VEGAS & FAYETTEVILLE, Ark.--(BUSINESS WIRE)--BitNile Holdings, Inc. (“BitNile”) (NYSE American: NILE) and White River Energy Corp (“White River”) (OTCQB:...

Mainz Biomed Announces IRB Approval and Initiation of US

Mainz Biomed Announces IRB Approval and Initiation of US

by Utah Digital News
December 6, 2022
0

ReconAAsense study examining the clinical performance of mRNA and DNA test combined with a fecal immunochemical test for early detection...

Germany provides EUR 30 million to IFAD’s immediate response to the global food and energy crisis – World

Germany provides EUR 30 million to IFAD’s immediate response to the global food and energy crisis – World

by Utah Digital News
December 6, 2022
0

Rome, 5 December 2022 - Germany has granted EUR 30 million to the UN's International Fund for Agricultural Development (IFAD)...

FREYR Battery and Nidec Corporation Complete Formation of Joint Venture

FREYR Battery and Nidec Corporation Complete Formation of Joint Venture

by Utah Digital News
December 6, 2022
0

NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production...

Next Post
Cambodia Arrests Chinese Casino Manager Tied to Freedom Swim

Cambodia Arrests Chinese Casino Manager Tied to Freedom Swim

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

utahdigitalnews.com

  • Disclaimer
  • Privacy Policy
  • Copyright Notice
  • Anti Spam Policy
  • Medical Disclaimer
  • DMCA Compliance
  • Terms and Conditions
  • Social Media Disclaimer
  • Amazon Affiliate disclaimer

© 2022 utahdigitalnews.com

No Result
View All Result
  • Home
  • News
    • PRESS RELEASE
  • Shop
  • BUSINESS
    • CRYPTO
    • ECONOMY
    • FINANCE
    • MARKET
    • MONEY
  • TECH
    • APPS
    • GADGET
    • MOBILE
    • SCIENCE
  • SOCIAL MEDIA
  • ENTERTAINMENT
    • ARTS & THEATER
    • GAMING
    • GAMBLING
    • MOVIE
    • MUSIC
    • SHOWS
    • SPORTS
  • LIFESTYLE
    • CELEBRITY
    • CULTURE
    • Education
    • FASHION
    • FOOD
    • HEALTH
    • HISTORY
    • Nature
    • Religion
    • Shopping
    • TRAVEL
  • REAL ESTATE
  • Blog
  • Classifieds

© 2022 utahdigitalnews.com