An investor sued architects of Lottery.com Inc.'s blank-check merger, claiming they duped shareholders into approving the “catastrophic” deal because its lopsided structure gave them a windfall no matter how it turned out.
The lawsuit targets the group of financial industry veterans—many with ties to Russia or the former Soviet bloc—who backed Trident Acquisition Corp., the special purpose acquisition company that combined with the former AutoLotto Inc. in 2021 to take it public as Lottery.com.
“The interests of these insiders in getting any deal done” drove them to push “whatever deal they could find, regardless of whether that deal was a ...
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