{"id":692031,"date":"2022-10-04T12:59:13","date_gmt":"2022-10-04T16:59:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lottery-com-inc-securities-nasdaq-ltry\/"},"modified":"2022-10-04T12:59:13","modified_gmt":"2022-10-04T16:59:13","slug":"investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lottery-com-inc-securities-nasdaq-ltry","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lottery-com-inc-securities-nasdaq-ltry\/","title":{"rendered":"INVESTOR ALERT: BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION TO RECOVER LOSSESS FOR THOSE WHO PURCHASED LOTTERY.COM, INC. SECURITIES (NASDAQ: LTRY)"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">PHILADELPHIA<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Oct. 4, 2022<\/span><\/span> \/PRNewswire\/ &#8212; <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3667164-1&amp;h=1301843065&amp;u=https%3A%2F%2Fbergermontague.com%2F&amp;a=Berger+Montague\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">Berger Montague<\/span><\/a> has filed a class action lawsuit in <span class=\"xn-location\">the United States<\/span> District Court for the Southern District of <span class=\"xn-location\">New York<\/span> on behalf of investors who purchased securities of Lottery.com, Inc. (&#8220;Lottery.com&#8221;) (NASDAQ: LTRY) <b><i>between <span class=\"xn-chron\">November 15, 2021<\/span> and <span class=\"xn-chron\">July 29, 2022<\/span><\/i><\/b> (the &#8220;Class Period&#8221;).<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1850875\/BM_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1850875\/BM_Logo.jpg\" title=\"Berger Montague Logo (PRNewsfoto\/Berger Montague)\" alt=\"Berger Montague Logo (PRNewsfoto\/Berger Montague)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div id=\"divReleaseHighlightd614\" style=\"border-top: 1px solid;border-bottom: 1px solid;border-color: Gray;color: gray;width: 200px;float: left;margin: 5px 10px 5px 10px;text-align: justify\">BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION AGAINST LOTTERY.COM, INC.\u00a0<\/div>\n<p>\n        <b><br \/>\n          <i>Investor Deadline:\u00a0 Investors who purchased or acquired Lottery.com securities<\/i><br \/>\n        <\/b>\u00a0<b><i>may<\/i><\/b><b><i>no later than <span class=\"xn-chron\">October 18, 2022<\/span>, seek to be appointed as a lead plaintiff representative of the class.\u00a0 For additional information or to learn how to participate in this litigation, please contact <span class=\"xn-person\">Berger Montague<\/span>:<\/i><\/b>\u00a0James Maro at <a href=\"mailto:jmaro@bm.net\" target=\"_blank\" rel=\"nofollow noopener\">jmaro@bm.net<\/a>\u00a0or (215) 875-3093, or <span class=\"xn-person\">Andrew Abramowitz<\/span> at <a href=\"mailto:aabramowitz@bm.net\" target=\"_blank\" rel=\"nofollow noopener\">aabramowitz@bm.net<\/a>\u00a0or (215) 875-3015 or visit:\u00a0\u00a0 <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3667164-1&amp;h=1621116557&amp;u=https%3A%2F%2Fwww.lotterydotcomclassaction.com%2F&amp;a=https%3A%2F%2Fwww.lotterydotcomclassaction.com%2F\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.lotterydotcomclassaction.com\/<\/a>\u00a0<\/p>\n<p>According to the complaint, on <span class=\"xn-chron\">July 29, 2022<\/span>, in a Form 8-K filed with the SEC, the defendants informed the market that Lottery.com did not have &#8220;sufficient financial resources to fund its operations or pay certain existing obligations,&#8221; and that it therefore intended to furlough certain employees effective <span class=\"xn-chron\">July 29, 2022<\/span>. Moreover, because Lottery.com&#8217;s resources were not sufficient to fund its operations for a twelve-month period, &#8220;there is substantial doubt about the Company&#8217;s ability to continue as a going concern,&#8221; and Lottery.com may be forced to wind down its operations or pursue liquidation of its assets.<\/p>\n<p>In reaction to this news, shares of Lottery.com declined 64% a single trading day, falling <span class=\"xn-money\">$0.52<\/span> per share, from a closing price of <span class=\"xn-money\">$0.81<\/span> per share on <span class=\"xn-chron\">July 28, 2022<\/span> to a close of <span class=\"xn-money\">$0.29<\/span> per share on <span class=\"xn-chron\">July 29, 2022<\/span>.<\/p>\n<p>The complaint alleges that, throughout the Class Period, the defendants made materially false or misleading statements and\/or failed to disclose that, <i>inter alia<\/i>: (i) Lottery.com lacked adequate internal accounting controls; (ii) Lottery.com lacked adequate internal controls over financial reporting, including but not limited to those pertaining to revenue recognition and the reporting of cash; (iii) Lottery.com was not in compliance with state and federal laws governing the sale of lottery tickets; and (iv) as a result, Lottery.com&#8217;s public statements were materially false and misleading at all relevant times.<\/p>\n<p>A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member&#8217;s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his\/her choice, or may choose to do nothing and remain an inactive class member.<\/p>\n<p>\n        <span class=\"xn-person\">Berger Montague<\/span>, with offices in <span class=\"xn-location\">Philadelphia<\/span>, <span class=\"xn-location\">Minneapolis<\/span>, <span class=\"xn-location\">Washington, D.C.<\/span>, and <span class=\"xn-location\">San Diego<\/span>, has been a pioneer in securities class action litigation since its founding in 1970. <span class=\"xn-person\">Berger Montague<\/span> has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout <span class=\"xn-location\">the United States<\/span>.<\/p>\n<p>Contacts:<br \/><span class=\"xn-person\">James Maro<\/span>, Senior Counsel<br \/><span class=\"xn-person\">Berger Montague<\/span><br \/>(215) 875-3093<br \/><a href=\"mailto:jmaro@bm.net\" target=\"_blank\" rel=\"nofollow noopener\">jmaro@bm.net<\/a>\u00a0<\/p>\n<p>\n        <span class=\"xn-person\">Andrew Abramowitz<\/span>, Senior Counsel<br \/><span class=\"xn-person\">Berger Montague<\/span><br \/>(215) 875-3015<br \/><a href=\"mailto:aabramowitz@bm.net\" target=\"_blank\" rel=\"nofollow noopener\">aabramowitz@bm.net<\/a>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC92490&amp;sd=2022-10-04\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lotterycom-inc-securities-nasdaq-ltry-301640405.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lotterycom-inc-securities-nasdaq-ltry-301640405.html<\/a><\/p>\n<p>SOURCE  <span class=\"xn-person\">Berger Montague<\/span><\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DC92490&amp;Transmission_Id=202210041255PR_NEWS_USPR_____DC92490&amp;DateId=20221004\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire PHILADELPHIA , Oct. 4, 2022 \/PRNewswire\/ &#8212; Berger Montague has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors who purchased securities of Lottery.com, Inc. (&#8220;Lottery.com&#8221;) (NASDAQ: LTRY) between November 15, 2021 and July 29, 2022 (the &#8220;Class Period&#8221;). BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION AGAINST LOTTERY.COM, INC.\u00a0 Investor Deadline:\u00a0 Investors who purchased or acquired Lottery.com securities \u00a0mayno later than October 18, 2022, seek to be appointed as a lead plaintiff representative of the class.\u00a0 For additional information or to learn how to participate in this litigation, please contact Berger Montague:\u00a0James Maro at jmaro@bm.net\u00a0or (215) 875-3093, or Andrew Abramowitz at &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lottery-com-inc-securities-nasdaq-ltry\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;INVESTOR ALERT: BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION TO RECOVER LOSSESS FOR THOSE WHO PURCHASED LOTTERY.COM, INC. SECURITIES (NASDAQ: LTRY)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-692031","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>INVESTOR ALERT: BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION TO RECOVER LOSSESS FOR THOSE WHO PURCHASED LOTTERY.COM, INC. SECURITIES (NASDAQ: LTRY) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lottery-com-inc-securities-nasdaq-ltry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION TO RECOVER LOSSESS FOR THOSE WHO PURCHASED LOTTERY.COM, INC. SECURITIES (NASDAQ: LTRY) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire PHILADELPHIA , Oct. 4, 2022 \/PRNewswire\/ &#8212; Berger Montague has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors who purchased securities of Lottery.com, Inc. (&#8220;Lottery.com&#8221;) (NASDAQ: LTRY) between November 15, 2021 and July 29, 2022 (the &#8220;Class Period&#8221;). BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION AGAINST LOTTERY.COM, INC.\u00a0 Investor Deadline:\u00a0 Investors who purchased or acquired Lottery.com securities \u00a0mayno later than October 18, 2022, seek to be appointed as a lead plaintiff representative of the class.\u00a0 For additional information or to learn how to participate in this litigation, please contact Berger Montague:\u00a0James Maro at jmaro@bm.net\u00a0or (215) 875-3093, or Andrew Abramowitz at &hellip; Continue reading &quot;INVESTOR ALERT: BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION TO RECOVER LOSSESS FOR THOSE WHO PURCHASED LOTTERY.COM, INC. 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SECURITIES (NASDAQ: LTRY) - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lottery-com-inc-securities-nasdaq-ltry\/","og_locale":"en_US","og_type":"article","og_title":"INVESTOR ALERT: BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION TO RECOVER LOSSESS FOR THOSE WHO PURCHASED LOTTERY.COM, INC. SECURITIES (NASDAQ: LTRY) - Market Newsdesk","og_description":"PR Newswire PHILADELPHIA , Oct. 4, 2022 \/PRNewswire\/ &#8212; Berger Montague has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors who purchased securities of Lottery.com, Inc. (&#8220;Lottery.com&#8221;) (NASDAQ: LTRY) between November 15, 2021 and July 29, 2022 (the &#8220;Class Period&#8221;). BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION AGAINST LOTTERY.COM, INC.\u00a0 Investor Deadline:\u00a0 Investors who purchased or acquired Lottery.com securities \u00a0mayno later than October 18, 2022, seek to be appointed as a lead plaintiff representative of the class.\u00a0 For additional information or to learn how to participate in this litigation, please contact Berger Montague:\u00a0James Maro at jmaro@bm.net\u00a0or (215) 875-3093, or Andrew Abramowitz at &hellip; Continue reading \"INVESTOR ALERT: BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION TO RECOVER LOSSESS FOR THOSE WHO PURCHASED LOTTERY.COM, INC. SECURITIES (NASDAQ: LTRY)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lottery-com-inc-securities-nasdaq-ltry\/","og_site_name":"Market Newsdesk","article_published_time":"2022-10-04T16:59:13+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1850875\/BM_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lottery-com-inc-securities-nasdaq-ltry\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-berger-montague-pc-reminds-investors-of-a-securities-fraud-class-action-to-recover-lossess-for-those-who-purchased-lottery-com-inc-securities-nasdaq-ltry\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"INVESTOR ALERT: BERGER MONTAGUE PC REMINDS INVESTORS OF A SECURITIES FRAUD CLASS ACTION TO RECOVER LOSSESS FOR THOSE WHO PURCHASED LOTTERY.COM, INC. 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