Iris Energy Lawsuit IREN | Deadline February 13, 2023
Iris Energy Class Action Lawsuit (IREN Lawsuit)
Investors who purchased or otherwise acquired IREN common stock during the period from November 17, 2021 through November 1, 2022, can register their information before the deadline of February 13, 2023.
Is Iris Energy Involved in a Securities Class Action Lawsuit?
Yes, a lawsuit has been filed against Iris Energy on December 14, 2022, on behalf of shareholders during the period from November 17, 2021 – November 1, 2022.
What Is The Iris Energy Lawsuit About?
An IREN class action lawsuit (Iris Energy Class Action Lawsuit) has been filed on behalf of investors who purchased Iris Energy Class Action Lawsuit (IREN) securities between November 17, 2021 – November 1, 2022, inclusive. For more on the IREN Lawsuit please contact us today.
According to the Iris Energy lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
((i) certain of Iris’s Bitcoin miners, owned through its Non-Recourse SPVs, were unlikely to produce sufficient cash flow to service their respective debt financing obligations;
(ii) accordingly, Iris’s use of equipment financing agreements to procure Bitcoin miners was not as sustainable as Defendants had represented;
(iii) the foregoing was likely to have a material negative impact on the Company’s business, operations, and financial condition; and
(iv) as a result, the Offering Documents and Defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.
If you suffered a loss in IREN, you have until February 13, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
How much did IREN stock drop?
Shareholders who held Iris’s ordinary share price fell $0.51 per share, or 15.04%, to close at $2.88 per share on November 2, 2022—a nearly 90% decline from the Offering price.
What does IREN Do?
Iris Energy Limited owns and operates bitcoin mining data centers in Canada, the United States, and the Asia-Pacific.
The company was incorporated in 2018 and is headquartered in Sydney, Australia.
Which Class Action Attorney Firm Can Help With The IREN Lawsuit?
Levi & Korsinsky LLP is a Securities Class Action Law Firm. For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Does It Cost Me To Join The IREN Class Action?
No, there are no out of pocket costs for you to join Iris Energy Lawsuit.
What Is the Lead Plaintiff Process?
THE LEAD PLAINTIFF PROCESS: According to the Private Securities Reform Act of 1995, any investor who bought or acquired IREN securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The IREN class-action lawsuit is directed by the lead plaintiff. To litigate the Iris Energy Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the Iris Energy.
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