NEW YORK, March 27, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Argo Blockchain plc ("Argo" or the "Company") (NASDAQ: ARBK). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Argo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]  

On March 5, 2024, Argo issued a press release "announc[ing] that it has entered into an agreement for the sale of its data center located in Mirabel, Quebec (the 'Mirabel Facility') for total consideration of $6.1 million (the 'Transaction')" and that "[t]he net proceeds from the Transaction are expected to first repay the Mirabel Facility's outstanding mortgage in full, with the remainder expected to be used to repay debt owed to Galaxy Digital Holdings, Ltd." 

On this news, Argo's American depositary receipt ("ADR") price fell $0.41 per share, or 18.64%, to close at $1.79 per share March 5, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

Attorney advertising. Prior results do not guarantee similar outcomes.   

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-argo-blockchain-plc---arbk-302101721.html

SOURCE Pomerantz LLP