CLSK CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against CleanSpark, Inc.
THE ANGEL–(BUSINESS WIRE) – Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the US District Court for the Southern Borough of New York entitled Bishins v.CleanSpark, Inc, et al. (Case) filed No. 1: 21-cv-00511) on behalf of any person or entity who between December 31, 2020 and January 14, 2020 has securities of CleanSpark, Inc. (“CleanSpark” or the “Company”) (NASDAQ: CLSK) purchased or otherwise acquired; 2021 inclusive (the “Class Period”). Plaintiff is pursuing claims under Sections 10 (b) and 20 (a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Investors are hereby notified that they have 60 days after such notification to appoint the court as the lead plaintiff in this lawsuit.
If you have suffered a loss on your CleanSpark investment or would like to inquire about whether you may be able to make claims to recover your loss under federal securities laws, you can use your contact information at https://www.glancylaw.com/cases Submit / cleanspark-inc /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or by email at Shareholder@glancylaw.com or on our website at www.glancylaw.com for more information about your rights.
On January 14, 2021, Culper Research published a report entitled “Cleanspark (CLSK): Back To The Trash Can” which claims, among other things, that CleanSpark invented “key elements of its business, including alleged customers and contracts” also “widely used.” related party transactions not mentioned. ”
In that news, the company’s stock fell $ 3.63 per share, or 9%, to close at $ 35.71 per share on January 14, 2021, hurting 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 in this class action alleges that throughout the class period, defendants made materially false and / or misleading statements and did not disclose material adverse facts about the company’s business, business and prospects. Specifically, 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) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and / or unfounded.
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If you purchased or otherwise acquired the CleanSpark securities during the class period, you may request the court no later than 60 days after such notice to request the court to appoint you as the lead plaintiff. You don’t need to take any action at this point to be a member of the class. You can keep an attorney of your choice or take no action and remain an absent member of the class. If you would like to learn more about this promotion, or have any questions about this announcement or your rights or interests in relation to these matters, please contact Charles Linehan, Esquire, GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, toll free at 888-773-9224, email Shareholders@glancylaw.com or visit our website at www.glancylaw.com. When inquiring by email, please include your postal address, telephone number and number of shares purchased.
This press release may be viewed as a solicitor’s advertisement in some jurisdictions under applicable laws and ethical rules.