SEGG Media has filed a $20 million lawsuit against White Diamond Research and Adam Gefvert for business disparagement, alleging a false and misleading short seller report caused its stock to drop more than 50%. The lawsuit, filed in Tarrant County District Court, claims the defendants published materially false statements with malice as part of a short-and-distort scheme. SEGG Media says the report omitted publicly available information about completed acquisitions, commercial partnerships, and leadership changes, and that legacy legal issues involve former executives no longer with the company. The company plans to publish a detailed response and the complaint on its investor relations website on June 29, 2026.
Lottery.com Inc.White Diamond Research is sued for $20 million over alleged false short seller report