MARA) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Marathon Digital Holdings, Inc. (NASDAQ: MARA)

NEW YORK, NY / ACCESSWIRE / December 21, 2021 / Bernstein Liebhard LLP announces that on behalf of investors who have purchased or acquired securities of Marathon Digital Holdings, Inc. (“Marathon” or the “Company”) (NASDAQ: MARA), between October 13, 2020 and November 15, 2021, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of Nevada alleging violations of the Securities Exchange Act of 1934.

if you wish to discuss purchased or otherwise acquired Marathon securities and / or your statutory rights and options, please visit or contact Marathon Digital Holdings, Inc. Joe Seidman free of charge at (877) 779-1414 or [email protected].

Marathon is a digital asset technology company mining cryptocurrencies with a focus on the blockchain ecosystem and digital asset generation in the United States. The company was formerly known as “Marathon Patent Group, Inc.” known. and changed its name to “Marathon Digital Holdings, Inc.” on March 1, 2021.

In October 2020, Marathon announced the formation of a new joint venture with Beowulf Energy LLC (“Beowulf”) allegedly focused on providing low-cost power to Marathon’s bitcoin mining operations (the “Beowulf Joint Venture”). In connection with this joint venture, Marathon entered into a series of agreements with multiple parties to design and build a data center in Hardin, Montana (the “Hardin Facility”) and issued 6 million common shares to the parties to those agreements.

According to the lawsuit, defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the business, operations and prospects of the company. In particular, defendants did not disclose to investors that: (i) the Beowulf joint venture implied potential violations of law, including violations of US securities laws, with respect to the Hardin Facility; (ii) as a result, the Beowulf joint venture placed Marathon at increased risk of regulatory scrutiny; (iii) the foregoing would be reasonably likely to have a material adverse effect on the Company’s business and business prospects; and (iv) as a result, the Company’s public statements at all relevant times have been materially false and misleading.

The story goes on

On November 15, 2021, Marathon announced that “the company and some of its executives have received a subpoena to prepare documents and notices regarding the data center facility in Hardin, Montana,” and said the SEC may investigate whether there are any existed or not violated federal securities laws.

As a result of this news, Marathon stock price fell $ 20.52 per share, or 27.03%, to close at $ 55.40 per share on November 15, 2021.

If you want to appear as the lead plaintiff, you have to go to court no later than February 15, 2022. A lead plaintiff is a representative party who acts on behalf of other members of the group in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you do nothing, you can remain an absent class member.

if you wish to discuss purchased or otherwise acquired Marathon securities and / or your statutory rights and options please visit https://www.bernlieb.com/cases/marathondigitalholdingsinc-mara-shareholder-lawsuit-class-action-fraud-stock-468/ or contact Joe Seidman free of charge at (877) 779-1414 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the largest public and private pension funds in the country to monitor their assets and litigate on their behalf. As a result of its success in hundreds of lawsuits and class actions, the firm has been listed on the National Law Journal’s “Plaintiffs Hot List” thirteen times and The Legal 500 for ten consecutive years.

ADVERTISING LAWYER. © 2021 Bernstein Liebhard LLP. The firm responsible for this notification is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this complaint in the Connecticut state is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to future matters.

Contact information:
Joe Seidman
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]

SOURCE: Bernstein Liebhard LLP

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