Sports Entertainment Gaming Global Corporation ("SEGG Media" or the "Company") (NASDAQ:SEGG, LTRYW)), today filed a civil action in Texas against White Diamond Research LLC ("White Diamond") and Adam Gefvert ("Gefvert") (collectively "Defendants") seeking $20 million in damages for business disparagement. This recent action arises from a report filed by White Diamond on June 10, 2026 which SEGG Media alleges contains false, misleading and disparaging statements made by White Diamond and Gefvert. According to the lawsuit filed, White Diamond and Gefvert published false, misleading and disparaging statements with malice causing the Company pecuniary loss, in furtherance of a "short and distort" scheme perpetrated by the Defendants and other unnamed co-conspirators. The lawsuit, filed in Tarrant County District Court (Sports Entertainment Gaming Global Corporation v White Diamond Research LLC and Adam Gefvert Cause Number 352-379280-26), identifies specific statements made by the Defendants that the Company alleges are false, materially misleading and disparaging.

The Company believes the disparaging publication by Defendants and further amplified on social media by Mr. Gefvert is intended to damage the Company’s reputation and adversely affect the market price of its common stock. According to the lawsuit, the Company stock price has dropped more than 50% after the false, misleading and disparaging report about SEGG Media was first published by Defendants.