Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 230

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 230
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 the Company’s growth, structure and expansion into new markets. The Advisory Board will focus on the Company’s two primary brands, Lottery.com and Sports.com, along with its subsidiaries. The Advisory Board will provide independent advice on evolving trends and challenges to Lottery.com’s board of directors and executive management team, helping evaluate the Company’s current business model, refine operations and explore new trends and prospects to accelerate growth. Additionally, the Advisory Board will support corporate governance and offer strategic recommendations to ensure compliance and long-term stability.

On February 24, 2025, Texas Lottery Commission Executive
Director Ryan Mindell announced that lottery ticket courier services are not allowed under Texas law and that the agency will move forward
with proposed rule amendments prohibiting lottery courier services within the state. The Policy prohibits the Company and other courier
services from holding a Texas Lottery retail license or procuring tickets from other licensed retailers.

On February 25, 2025, the Court in the SDNY in the Preston Million Class
Action granted in part and denied in part the Company’s MTD Third Amended Complaint (the “Order). As set forth in the Order,
the Class Plaintiffs’ Section 10(b) claim shall proceed against Defendant Dickinson and the Company based on post−merger representations
regarding Lottery’s financial performance and financial reporting. Class Plaintiffs’ and Hoffman’s Section 20(a) claim
premised on Section 10(b) shall likewise proceed against Defendant Dickinson. Class Plaintiffs’ Section 14(a) claim shall proceed
against the Company and Defendants DiMatteo, Clemenson and Dickinson with respect to certain legal and regulatory compliance statements
in the Proxy. The remainder of Plaintiffs’ claims were dismissed, including all claims against Komissarov. The Court also ordered
that Plaintiffs shall have leave to amend within twenty−one (21) days of this opinion and order. On March 13, 2025, the Court granted
Plaintiff Hoffman’s motion for leave for additional time to amend his complaint. Accordingly, Hoffman’s’ Third Amended
Complaint shall be due April 24, 2025. Defendants’ motions to dismiss shall be due June 30, 2025; Plaintiff Hoffman’s opposition
brief will be due August 14, 2025; and Defendants’ reply briefs shall be due September 17, 2025.

On February
25, 2025, the United States District Court for the Southern District of Florida has ruled in favor of the Company and Matthew McG