11:42 AM EDT, 06/03/2025 (MT Newswires) -- Lottery.com ( LTRY ) said Tuesday that it has started an investigation into potential short selling of its stock and has engaged legal counsel from Paul Hastings LLP for the probe.

The company said it believes it may be a victim of illegal naked short selling and that false information may have been disseminated with the purpose of damaging its business and driving down its stock price.

Lottery.com ( LTRY ) said it is "prepared to take all actions necessary" against anyone involved in any illegal activity.

Shares of Lottery.com ( LTRY ) were up more than 16% in recent Tuesday trading.

Price: 1.66, Change: +0.24, Percent Change: +16.55