Investor Deadline Alert: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Marathon Digital Holdings, Inc. (MARA) | News
RADNOR, Pa., January 16, 2022 /PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that a securities class action lawsuit has been filed against Marathon Digital Holdings, Inc. f/k/a Marathon Patent Group, Inc. (“Marathon”). (NASDAQ:MARA). The lawsuit alleges Marathon violations of federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and prospects. Marathon investors have suffered significant losses as a result of Marathon’s materially misleading public statements.
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LIMIT FOR THE PLAINTIFF: February 15, 2022
LESSON: October 13, 2020 through November 15, 2021
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or duty free (844) 887-9500 or email firstname.lastname@example.org
MARATHON ALLEGED MISCONDUCT
Marathon is a digital asset technology company primarily engaged in cryptocurrency mining, with a focus on the blockchain ecosystem and digital asset generation. on October 13, 2020, Marathon issued a press release announcing the formation of the Beowulf joint venture. This press release outlined that the Beowulf joint venture was “focused on providing low-cost power for Marathon’s bitcoin mining operations [,]’ while also asserting various alleged benefits that would accrue to Marathon in connection with this joint venture.
on November 15, 2021, the truth about the Beowulf joint venture was revealed when Marathon reported its third quarter 2021 financial results by filing a Form 10-Q. In the report, Marathon announced that the company had received a subpoena from the United States Securities and Exchange Commission (“SEC”) requesting documents related to its company Hardin, Montana data center. In particular, Marathon revealed that “during the quarter just ended September 30, 2021, [Marathon] and some of its executives received a subpoena to produce documents and communications regarding the Hardin, Montana Data center setup described in [Marathon’s] Form 8-K dated October 13th, 2020.” The report further revealed that Marathon understands “that the SEC may be investigating whether or not there have been violations of the federal securities law.”
Following this news, Marathon stock fell $20.52, or 27% to close $55.40 per share November 15, 2021.
WHAT CAN I DO?
marathon Investors can not later than February 15, 2022, seek to be appointed lead plaintiff representative in the class action by Kessler Topaz Meltzer & Check, LLP or other counsel, or may elect to do nothing and remain an absentee class plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Marathon investors who have suffered material losses to contact the company directly for more information.
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Who can be a lead plaintiff?
A Lead Plaintiff is a representative party acting on behalf of all Group Members in conducting the litigation. The lead plaintiff is usually the investor or small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and class, and such attorneys, where permitted by the court, are principal or class counsel. Your ability to participate in a recovery will not be affected by the decision whether or not to serve as Lead Plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP is pursuing class action lawsuits in state and federal courts across the country and around the world. The company has earned a global reputation for excellence, recovering billions of dollars from victims of fraud and other corporate wrongdoing. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, wrongdoing and negligence on the part of companies and fiduciaries. At the end of the day, if the bad guys pay and you get your fortune back, we’re done. The action in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. Additional information about Kessler Topaz Meltzer & Check, LLP is available at www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Radnor, PA 19087
(844) 887-9500 (toll free)
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SOURCE Kessler Topaz Meltzer & Check, LLP