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SEGG sues White Diamond and Adam Gefvert for $20M, alleges 'short-and-distort' after June 10 report
SEGG Media filed a $20 million business-disparagement lawsuit in Texas against White Diamond Research LLC and Adam Gefvert, alleging a false and misleading short-seller report published June 10 was part of a "short-and-distort" scheme that drove the company's stock down more than 50%. The company pushed back on claims it lacks operations, citing a controlling stake in Veloce Media Group, a June 10 rollout of Sports.com Predict, and said it will publish a detailed FAQ and the complaint to rebut the report and pursue legal remedies.
SEGG sues White Diamond and Adam Gefvert for $20M, blames June short-seller report for >50% stock drop
SEGG Media (SEGG; LTRYW) filed a $20 million business-disparagement lawsuit in Texas against White Diamond Research and Adam Gefvert, alleging a June 10 'short-and-distort' report contained false, misleading statements that drove the company’s stock down more than 50%. The company rebutted the report by citing completed strategic transactions (including a controlling interest in Veloce Media Group with pro forma SEC disclosure), saying its Sports.com Predict rollout began June 10, and pledged to publish a detailed FAQ and the complaint on its investor site.
SEGG: Veloce acquisition cited as driver of strong Q2 commercial momentum
SEGG Media says its $61M acquisition of Veloce (closed in Q1) has accelerated commercial momentum in Q2, adding roughly $20M of annualized revenue and helping win new partnerships across Veloce and Quadrant. Management highlighted new/expanded deals (That Prize Guy, Marex, Revolut) and campaigns with brands like Audi, Puma and Xbox, and said these partnerships plus a strong pipeline should deliver sustained revenue contributions through 2026.
SEGG launches Sports.com Predict during World Cup and signs title sponsorship with E1 Team Miami
SEGG Media (SEGG, LTRYW) launched Sports.com Predict on Sports.com to coincide with the start of the 2026 FIFA World Cup, giving the product immediate exposure during a major global sports moment. The company also named Sports.com Predict the title sponsor of E1 Team Miami for the UIM E1 World Championship to add real-world branding and fan engagement as it rolls out the product in permitted jurisdictions; no user or revenue metrics were provided.
SEGG launches Sports.com Predict early, activates first 10,000 users ahead of NBA Finals and World Cup
SEGG Media launched Sports.com Predict ahead of schedule, activating the first 10,000 eligible waitlist users on June 10 to coincide with the NBA Finals and the 2026 FIFA World Cup kickoff. Management calls this the first commercial deployment of its prediction-market strategy and plans to leverage its owned audience (Sports.com and Veloce's network of 500M+ monthly views) to drive user acquisition and future revenue; initial access is capped and limited to jurisdictions where prediction markets are permitted.
SEGG opens Sports.com Predict to first 10,000 waitlist users ahead of 2026 World Cup
SEGG Media began a phased rollout of Sports.com Predict, giving exclusive first access to the first 10,000 eligible waitlist users after beta testing as it prepares for broader availability ahead of the 2026 FIFA World Cup. The in-site prediction market uses a centralized trading engine with decentralized blockchain settlement and leverages Veloce Media Group's claimed >500M monthly views to drive user acquisition and scale.