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Texas Class-Action Suit Against Lottery.com Voluntarily Dismissed by Plaintiff

1. Plaintiff withdraws lawsuit against Lottery.com without prejudice. 2. The case alleged unfounded claims about Lottery.com's Texas operations. 3. COO notes dismissal indicates lack of evidence against the company. 4. Company focuses resources on enhancing shareholder value post-dissmissal. 5. Lottery.com aims to rebuild investor confidence for sustainable growth.

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Why Bullish?

The lawsuit's dismissal removes uncertainty, likely boosting investor confidence and shares. Historically, resolved litigation has led to positive market reactions, as seen in cases like Meta's legal challenges.

How important is it?

The article's implications of a cleared legal threat directly bolster LTRY's outlook. Legal issues often weigh heavily on investor sentiment, making resolution impactful.

Why Short Term?

Immediate removal of legal threat can quickly influence stock prices. Short-term sentiment often reacts to such news before stabilizing.

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LTRYW
June 02, 2025 13:59 ET  | Source: Lottery.com Inc. FORT WORTH, Texas, June 02, 2025 (GLOBE NEWSWIRE) -- Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading technology company in digital lottery and sports entertainment, was notified that Plaintiff Dawn Nettles filed a notice on May 30, 2025 that she is “taking a Nonsuit Without Prejudice Against All Parties Effective Immediately” (the “Notice”) in Case No. 25-BC11A-0026; Dawn Nettles vs. Rook TX LP, Gary N. Grief, Lottery.com Inc. (The “Suit”). The suit was originally filed in the 333rd District Court in Harris County, Texas and later moved to Business Court Division 11a. It made a series of unfounded allegations against Lottery.com’s operations and conduct in Texas. The Notice, under Texas Rule of Civil Procedure 162, terminated the case effective immediately. Following the dismissal, Gregory Potts, Lottery.com Chief Operating Officer, said: “I had the opportunity to meet Ms. Nettles earlier this year when I appeared before the Texas Senate Finance committee. She is a long-time advocate for the fair and transparent operation of Texas lottery games, a belief shared by our company, Lottery.com. We believe the decision to seek a voluntary dismissal speaks to the lack of any evidence that Lottery.com was engaged in any wrongdoing. We have fully cooperated with all investigations into the April 2023 Lotto Texas drawing, and to my knowledge, there has been no finding against the Company of any of the activities claimed in this lawsuit. Defending the Company in this case would have required us to allocate resources that are better spent on delivering shareholder value. This marks another important step as we continue to rebuild investor confidence and position the Lottery.com family of brands for sustainable growth." About Lottery.com The Lottery.com Inc. (NASDAQ: LTRY, LTRYW) family of brands — including Sports.com, Tinbu and WinTogether, comprise a unified ecosystem that integrates gaming, entertainment, and sports. Follow the Company on X, Instagram and Facebook. For more information, please visit www.lottery.com or contact our media relations team at press@lottery.com. Important Notice Regarding Forward-Looking Statements  This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on June 14, 2024, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. This press release was published by a CLEAR® Verified individual.

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