SAN FRANCISCO, CA / ACCESSWIRE / January 28, 2021 / Hagens Berman updates investors in the following publicly-traded companies and urges investors who have suffered significant losses to contact the firm. Further details about the cases, including important upcoming deadlines, can be found at the links provided.
BTBT Investors Click Here.
CLSK Investors Click Here.
TRIT Investors Click Here.
Bit Digital, Inc. (BTBT) Securities Fraud Class Action:
Class Period: Dec. 21, 2020 - Jan. 8, 2021
Lead Plaintiff Deadline: Mar. 22, 2021
Visit:www.hbsslaw.com/investor-fraud/BTBT
Contact An Attorney Now:BTBT@hbsslaw.com
844-916-0895
The complaint centers on whether Defendants misled investors about Bit Digital's business operations and prospects by concealing that the company exaggerated its bitcoin mining operation.
Investors began to learn the truth, according to the complaint, on Jan. 11, 2021, when market analyst J Capital Research issued a scathing report about the company, concluding that Bit Digital operates "a fake crypto currency business" "designed to steal funds from investors."
According to J Capital, "[t]he company reported at end Q3 2020 that it was operating 22,869 bitcoin miners in China," but that "is simply not possible" and "[w]e verified with local governments supposedly hosting the BTBT mining operation that there are no bitcoin miners there."
In response, the price of Bit Digital shares crashed lower.
"We're focused on investor losses and proving Bit Digital faked its business by falsely portraying itself as a player in bitcoin mining," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a Bit Digital investor or have information that may assist our investigation, click here to discuss your legal rights with Hagens Berman.
CleanSpark, Inc. (CLSK) Securities Fraud Class Action:
Class Period: Dec. 31, 2020 - Jan. 14, 2021
Lead Plaintiff Deadline: Mar. 22, 2021
Visit:www.hbsslaw.com/investor-fraud/CLSK
Contact An Attorney Now:CLSK@hbsslaw.com
844-916-0895
The complaint centers on whether Defendants misled investors about CleanSpark's business and operations by concealing that the company overstated contract and customer figures while touting the company's involvement in bitcoin mining and providing advanced software and controls technology solutions to solve modern energy challenges.
Investors began to learn the truth, according to the complaint, on Jan. 14, 2021, when Culper Research published a scathing report entitled "Cleanspark: Back to the Trash Can" and called CleanSpark's shares "uninvestible."
According to Culper's analysis, in acquiring ATL Data Centers in Dec. 2020, CleanSpark "has simply rebranded an otherwise failed, podunk operation in service of a gutless promotion attempt," and "Cleanspark's apparent lies and omissions aside, we think investors buying the stock for the Company's mining capabilities are paying Porsche 911 prices for what amounts to a broken-down Toyota Corolla."
In addition, Culper accuses CleanSpark of habitually fabricating and overstating claimed customers and contracts. According to Culper, it visited a microgrid project deployment site where the company claims it will provide power solutions to over 400 residential resort properties and saw "zero construction, merely empty desert, representative of the Company's many empty promises."
In response, the price of CleanSpark shares crashed lower.
"We're focused on investor losses and proving CleanSpark and certain insiders tricked investors with a fraudulent stock promotion scheme," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a CleanSpark investor, click here to discuss your legal rights with Hagens Berman.
Triterras, Inc. (TRIT) Securities Class Action:
Class Period: August 20, 2020 - December 16, 2020
Lead Plaintiff Deadline: Feb. 19, 2021
Visit:www.hbsslaw.com/investor-fraud/TRIT
Contact An Attorney Now:TRIT@hbsslaw.com
844-916-0895
The complaint centers on the accuracy of Triterras' and senior managements' statements concerning the company's dependence on- and the financial condition of- Rhodium Resources, a business controlled by Triterras CEO Srinivas Koneru.
More specifically, according to the complaint, Defendants made misleading statements about or concealed (1) the extent to which Triterras revenue growth depended on referrals from Rhodium, (2) Rhodium's dire financial condition, and (3) that as a result Rhodium was likely to refer fewer users to the company.
Investors began to learn the truth, according to the complaint, on Dec. 17, 2020 when Triterras announced Rhodium was seeking a moratorium to shield itself from creditors while planning to restructure debts and continue business as a going concern. This news sent the price of Triterras shares crashing lower.
Most recently, on Jan. 14, 2021, Phase 2 Partners published a report entitled "Is Triterras (TRIT) the Wirecard of Blockchain?" Among other things, Phase 2 highlighted its concerns over (1) undisclosed related party transactions, and (2) certain accounting matters Phase 2 considers to be "red flags." In response, the price of Triterras shares crashed lower again.
"We're focused on investors' losses and proving Triterras intentionally misled them about the financial condition of its admitted material related party, Rhodium, when and after the company went public," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a Triterras investor and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Bit Digital, CleanSpark, and/or Triterras should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BTBT@hbsslaw.com, CLSK@hbsslaw.com, and/or TRIT@hbsslaw.com
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
CONTACT:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
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