SEGG Stock Surges Following Market Manipulation Lawsuit
SEGG shares rose 17% on Tuesday after the company filed a civil lawsuit against four firms, alleging illegal trading practices including naked short selling and market manipulation.
Sports Entertainment Gaming Global Corp filed a civil lawsuit in Tarrant County District Court against four firms for alleged market manipulation and illegal trading practices. Company leadership, including Chairman Marc Bircham and interim CEO Robert Stubblefield, condemned these actions and committed to protecting shareholders. The stock increased 17.12% to $1.30 on Tuesday but remained flat in after-hours trading.
Despite this gain, the stock has declined 89.52% over the past 12 months and currently trades near its 52-week low. With a market capitalization of $15.16 million, the company faces significant challenges in restoring investor confidence.
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