RM LAW Announces Class Action Lawsuit Against CleanSpark, Inc.

BERWYN, Pa., January 26, 2021 / PRNewswire / – RM LAW, PC announces that it has filed a class action lawsuit on behalf of any person or entity that has purchased stock of CleanSpark, Inc. (“CleanSpark” or the “Company”) (NASDAQ: CLSK) during the period was from December 31, 2020 by January 14, 2021including (the “Class Period”).

CleanSpark shareholders can do so no later than March 22, 2021to move the court to appoint the lead plaintiff for the class. If you have purchased shares in CleanSpark and would like to learn more about these claims, or if you would like to discuss these matters and have questions about this announcement or your rights, please contact Richard A. Maniskas, Esquire toll free at (844) 291-9299 or to register online, click here.

On January 14, 2021Culper Research released a report titled “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,” and was “widespread” transactions with related parties. “

In that news, the company’s stake fell $ 3.63 per share or 9% to close at $ 35.71 per share on January 14, 2021thereby hurting investors. The stock fell further in the next trading session $ 4.56or 13% to close 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.

If you are a member of the class, you can at the latest March 22, 2021, ask the court to appoint you as the lead plaintiff for the class. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. In certain circumstances, one or more class members may act together as the “lead plaintiff”. However, your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff. You can keep RM LAW, PC or any other lawyer of your choice to act as your attorney in this promotion.

For further information please contact RM LAW, PC (Richard A. Maniskas, Esquire) toll free at (844) 291-9299 or by email at [email protected] or click here. For more information on class actions in general, or to learn more about RM LAW, PC, please visit our website by clicking here.

RM LAW, PC is a national law firm for shareholders. RM LAW, PC is dedicated to protecting the interests of individual and institutional investors in shareholder claims in state and federal courts across the country.

CONTACT:

RM LAW, PC


Richard A. Maniskas, Esquire


1055 Westlakes Dr., Ste. 300


Berwyn, PA 19312


484-324-6800


844-291-9299


[email protected]

SOURCE RM LAW, PC

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