LOS ANGELES, CA / ACCESSWIRE / March 28, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Hut 8 Corp. ("Hut 8" or "the Company") (NASDAQ:HUT) for violations of ยงยง10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 9, 2023 and January 18, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before April 8, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Hut 8 was formed in November 2023 by the merger of Hut 8 Mining Corp. ("Legacy Hut") and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. ("USBTC") (the "Merger"). The Company failed to disclose that one of USBTC's largest shareholders was an undisclosed related party. The company also failed to disclose that one of USBTC's core assets, a joint venture bitcoin mining facility in King Mountain, Texas, had failed to provide energy and high-speed internet. The Company overstated the profitability of certain USBTC assets. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Hut 8, investors suffered damages.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm
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