Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 350

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 4
Chunk 350
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 directors Matthew
Howard McGahan (“McGahan”), Christopher Gooding (“Gooding”), Paul Jordan (“Jordan”), Tamer
Hassan (“Hassan”) and Warren Macal (“Macal” together with McGahan, Gooding, Jordan and Hassan, the
“Individual Defendants” and, collectively Lottery.com, the “Defendants”) in Delaware Chancery Court
alleging, amongst other things, breach of contract by the Company with respect to certain notes and warrants and breach of fiduciary
duties by the Individual Defendants. (CA. No. 2024-0921-NAC: styled Honey Tree Trading, LLC v. Lottery.com Inc., et al.). On October
10, 2024, Honey Tree amended its Complaint by filing an amended verified complaint (the “Amended Complaint”) and a
motion to expedite proceedings (the “Motion”). On November 6, 2024, at a hearing on Plaintiff’s Motion (the
“Hearing”) and on the issue of breach of fiduciary duties against the Individual Defendants, Honey Tree’s counsel
informed the Court that, “[t]here is no question that Honey Tree is presently a shareholder and was a shareholder at the time
it presented its pleading.” On November 12, 2024, Plaintiff’s counsel informed the Court that “Honey Tree did own
shares prior to the filing of the Amended Complaint but sold them prior to that filing; and (ii) Honey Tree did not
subsequently purchase shares of Lottery.com until November 7, 2024, the day after the [H]earing,” (Plaintiff’s
Admission”). Following Plaintiff’s Admission on November 13, 2024, Plaintiff dismissed without prejudice its claims
against Hassan and Macal (the “Dismissal”). The Court ordered the Dismissal on November 15, 2024. On December 13, 2024,
Plaintiff filed amended its Amended Complaint by filing a second amended verified complaint (the “Second Amended
Complaint”) and a renewed motion to expedite proceedings (the “Second Motion to Expedite”) against the Company and
remaining Individual Defendants. In accordance with a briefing stipulation entered by the Court on December 11, 2023, defendants
shall answer the Second Amended Complaint and file its opposition to the Second Motion to Expedite by January 13, 2025. On January
13, 2025, the Company