Ex-Lottery.com Inc. executives, including two who pleaded guilty to securities fraud charges, and their financial advisers will face investor claims they misled shareholders about the blank-check merger that took it public in 2021.
Vice Chancellor Morgan T. Zurn ruled from the bench Thursday that the investors’ story about an “expansive scheme to mislead stockholders” was sufficiently supported by their complaint.
The complaint in Delaware’s Chancery Court alleges B. Riley Securities Inc., Chardan Capital Markets LLC, and the Lottery.com executives aided and abetted breaches of fiduciary duty by the directors and officers of the special purpose acquisition company ...
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