Glancy Prongay & Murray LLP Reminds Investors of Impending Deadline
LOS ANGELES, Oct. 05, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come October 18, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors claiming Lottery.com Inc. f/k/a Trident Acquisitions Corp. (“Lottery.com” or the “Company”) purchased or otherwise acquired LTRY securities between November 15, 2021 and July 29, 2022inclusive (the “Class Period”).
If you have suffered a loss on your Lottery.com investments or would like to inquire about the possibility of making claims to recover your loss under the federal securities laws, you may submit your contact information at www.glancylaw.com/cases/lotterycom-inc/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.
On July 6, 2022, Lottery.com announced that an internal investigation had revealed “incidents of non-compliance with state and federal laws relating to the state in which tickets are sourced and order fulfillment” and “issues related to the company’s internal accounting The company also announced that it had resigned Ryan Dickinson, the company’s president, treasurer and chief financial officer.
As a result of this news, Lottery.com’s share price fell $0.15, or 12.3%, to close at $1.07 per share on July 6, 2022, hurting investors.
Then, on July 15, 2022, after the markets had closed, Lottery.com announced that its chief revenue officer had resigned. The company also reported that after a review of its cash on hand, revenue recognition policies and procedures, and other internal accounting controls, it “overstated its available unrestricted cash on hand by approximately $30 million and, as a result, in the prior fiscal year, misrepresented earnings of the same amount.” expelled.”
As a result of this news, Lottery.com’s stock price fell $0.14, or 14.6%, to close at $0.82 per share on July 16, 2022, bringing…
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