BIT DIGITAL ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Bit Digital, Inc. and Encourages Investors to Contact the Firm
NEW YORK–(BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, announces a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of investors who have acquired Bit Digital, Inc. NASDAQ: BTBT) securities between December 21, 2020 and January 8, 2021 (the “Class Period”). Investors have until March 22, 2021 to apply to the court for appointment as the lead plaintiff in the lawsuit.
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Bit Digital is a holding company that purports to be in the Bitcoin mining business through its wholly-owned subsidiaries in the US and Hong Kong.
On January 11, 2021, J Capital Research published a research report claiming, among other things, that Bit Digital operates “a business in counterfeit cryptocurrencies” “to steal money from investors.” Although the company claims it “operated 22,869 bitcoin miners in China,” J Capital claimed that “it just can’t be” and stated that “[w]We checked with the local governments that allegedly mine BTBT that there are no Bitcoin miners there. ”
In the news, Bit Digital’s share price fell $ 6.27 per share, or 25%, to close at $ 18.76 per share on January 11, 2021.
The complaint, filed on January 20, 2021, alleges that throughout the classroom, the defendants made materially false and / or misleading statements and did not disclose material adverse facts about the company’s business, operations and prospects. In particular, Defendants have failed to advise investors: (1) that Bit Digital has overestimated the extent of its Bitcoin mining operation; and (2) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and / or were unfounded.
If you have purchased Bit Digital securities during the class period and suffered a loss, have information, want to learn more about these claims, or have any questions about this announcement or your rights or interests in relation to these matters, please contact Brandon Walker . Melissa Fortunato or Marion Passmore by emailing email@example.com, by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.