Deadline in Lawsuit for Investors who Lost over $100,000 in shares of Iris Energy Limited announced by Shareholders Foundation
SAN DIEGO, Jan. 9, 2023 /PRNewswire/ -- The Shareholders Foundation, Inc. announced that a deadline is coming up on February 6, 2023, in the lawsuit that was filed for certain investors in Iris Energy Limited (NASDAQ: IREN) shares.
Investors who purchased in excess of
On December 7, 2022, a lawsuit was filed against Iris Energy Limited. The plaintiff alleges that the Offering Documents that were filed in connection with the Company's initial public offering ("IPO") conducted on or about November 17, 2021 and that the Defendants made false and/or misleading statements and/or failed to disclose that certain of Iris Energy Limited's Bitcoin miners, owned through its Non-Recourse SPVs, were unlikely to produce sufficient cash flow to service their respective debt financing obligations, that accordingly, Iris's use of equipment financing agreements to procure Bitcoin miners was not as sustainable as Defendants had represented, that the foregoing was likely to have a material negative impact on the Company's business, operations, and financial condition, and that as a result, the Offering Documents and Defendants' public statements between November 17, 2021 and November 1, 2022 were materially false and/or misleading and failed to state information required to be stated therein.
Those who purchased shares of Iris Energy Limited (NASDAQ: IREN) should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
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SOURCE Shareholders Foundation, Inc.
