403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
SEGG Stock Rallies After Filing $179M Lawsuit Alleging Unlawful Trading
(MENAFN- AsiaNet News)
Sports Entertainment Gaming Global Corp. (SEGG) announced on Tuesday that it has filed a $179 million civil lawsuit in Tarrant County District Court against four firms that it believes participated in illegal trading activity.
The company said that the firms had engaged in coordinated and unlawful trading activity designed to artificially suppress the company's share price and damage shareholder value.
SEGG Media alleged in its lawsuit that the defendants' fraudulent conduct violated state and federal securities laws, interfered with lawful price determination in the free market, and undermined investor confidence at a time when the company was executing a turnaround and advancing revenue-generating initiatives.
The company said it is seeking monetary damages, injunctive relief, and other remedies available under applicable law.
The stock of the company rose nearly 19% at the time of writing.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment