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Lottery.com Facing Class Action Lawsuit Filed on Behalf of Investors

August 23, 2022 | Financial

Law Firm Encourages Shareholders to Submit Their Losses.

SAN DIEGO, CA, Aug. 20, 2022 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Lottery.com Inc. (“Lottery.com” or “the Company”) (NASDAQ: LTRY). The class action is on behalf of shareholders who purchased Lottery.com securities between November 15, 2021 and July 29, 2022, both dates inclusive (the “Class Period”). Investors are hereby notified that they have until October 18, 2022 to move the Court to serve as lead plaintiff in this action.

What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.

To join this action, you can click or copy and paste the link below in a browser:

https://www.johnsonfistel.com/investigations/lottery-com-ltry-class-action

There is no cost or obligation to you.

According to the Complaint, the Company made false and misleading statements to the market. Lottery.com failed to maintain appropriate accounting controls. The Company also failed to maintain appropriate controls over financial reporting including revenue recognition and the reporting of cash. The Company was not in compliance with laws related to the sale of lottery tickets. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Lottery.com, investors suffered damages.

A lead plaintiff will act on behalf of all other class members in directing the Lottery.com class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Lottery.com class action lawsuit is not dependent upon serving as lead plaintiff. For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Click here to see the CLASS ACTION COMPLAINT

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com

SOURCE: Johnson Fistel, LLP

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