CLEANSPARK ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against CleanSpark, 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 purchased CleanSpark, Inc. (NASDAQ: CLSK) securities between December 31, 2020 and January 14, 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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CleanSpark provides advanced software and control technology solutions, including end-to-end microgrid energy modeling, energy market communication and energy management solutions.
On Jan. 14, 2021, Culper Research released a report claiming, among other things, that CleanSpark “invented key elements of its business, including alleged customers and contracts,” and that it was “full of undisclosed related party transactions”.
In that news, the company’s share price fell $ 3.63, or 9%, to close at $ 35.71 per share on January 14, 2021, harming investors. The stock fell further $ 4.56, or 13%, in the next trading session, closing at $ 31.15 per share on January 15, 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 the company has overstated its customer and contract numbers; (2) that several of the Company’s recent acquisitions involved undisclosed related party transactions; and (3) that Defendants’ positive statements about the Company’s business, operations and prospects as a result of the foregoing were materially misleading and / or unfounded.
If you have purchased CleanSpark securities during the class period and suffered a loss, are a long term shareholder, have information, want to learn more about these claims, or have questions about this announcement or your rights or interests in relation to these matters, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at firstname.lastname@example.org, 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.