Lottery.com Says Federal Court Dismisses Misrepresentation Case; Shares Rise

MT Newswires Live02-28

Lottery.com (LTRY) said Thursday that a federal court has dismissed with prejudice all claims against the company and its Chief Executive, Matthew McGahan, brought by Sharon A. McTurk and her affiliated entities.

The plaintiffs alleged fraudulent misrepresentation, negligent misrepresentation, aiding and abetting, and conspiracy, claiming that McTurk was promised Lottery.com common shares at below market price in exchange for financial support, the company said.

The US District Court for the Southern District of Florida ruled that the allegations failed to meet basic legal standards and could not proceed, Lottery.com said.

The shares of Lottery.com were up nearly 6% in recent trading.

Price: 1.62, Change: +0.09, Percent Change: +5.88

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