SEC alleges SPAC deal based on fraud [Investment Executive - News]
Lottery.com, Inc. (SEGG)
Company Research
Source: Investment Executive - News
A company and several executives allegedly misled investors in an effort to facilitate a merger with a special purpose acquisition company (SPAC) — a shell company that raises capital from investors to carry out a deal — before the SPAC would have had to dissolve. The U.S. Securities and Exchange Commission (SEC) charged Lottery.com Inc., along with three former executives, and the CEO of Trident Acquisitions Corp., a SPAC, in connection with an alleged fraud that centred around misleading disclosure. According to the SEC's complaint, between November 2020 and May 2022, the executives engaged in a scheme to mislead and defraud investors in Lottery.com and Trident, which acquired the online lottery ticket seller in 2021. The SEC alleged that when the scheme was first hatched, Lottery.com was struggling to generate revenue. Trident, meanwhile, was facing a deadline to complete an acquisition; otherwise it would be forced to dissolve and return the US$60 million that it raised fro
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SEGG
News
- SEGG Media Expands Executive Team With Appointment of Simon Lewis to Lead Concerts.com and Company’s Entertainment Portfolio StrategyGlobeNewswire
- La SEC allègue qu’une opération de SPAC reposait sur une fraude [Finance et Investissement (Montreal) (French)]Finance et Investissement
- SEGG Media Updates 90-Day Plan, Targets February and March Acquisition Closings [Yahoo! Finance]Yahoo! Finance
- SEGG Media Updates 90-Day Plan, Targets February and March Acquisition ClosingsGlobeNewswire
- Federal Court Dismisses All of Remaining Claims Against SEGG MediaGlobeNewswire
SEGG
Sec Filings
- 2/2/26 - Form 8-K
- 1/30/26 - Form 8-K
- 1/29/26 - Form DEF
- SEGG's page on the SEC website