SAN FRANCISCO, Feb. 4, 2021 /PRNewswire/ — Hagens Berman urges traders in Bit Digital, Inc. (NASDAQ: BTBT) with important losses submit your losses now. A securities fraud class motion has been filed and sure traders might have helpful claims.
Bit Digital, Inc. (BTBT) Securities Fraud Class Motion:
The grievance alleges that Defendants misled traders about Bit Digital’s enterprise operations and prospects by concealing that the corporate exaggerated its bitcoin mining operation.
Traders allegedly started to be taught the reality on Jan. 11, 2021, when market analyst J Capital Analysis issued a scathing report in regards to the firm, concluding that Bit Digital operates “a pretend crypto forex enterprise” “designed to steal funds from traders.”
Based on J Capital, “[t]he firm reported at finish Q3 2020 that it was working 22,869 bitcoin miners in China,” however that “is just not potential” and “[w]e verified with native governments supposedly internet hosting the BTBT mining operation that there are not any bitcoin miners there.”
In response, the worth of Bit Digital shares crashed decrease.
Most not too long ago, on Feb. 3, 2021 Bit Digital introduced its chairwoman (Ping Liu) resigned, its CEO (Min Hu) was terminated, and its Chief Technique Officer (Hong Yu) resigned.
“We’re centered on investor losses and proving Bit Digital faked its enterprise by falsely portraying itself as a participant in bitcoin mining,” stated Reed Kathrein, the Hagens Berman associate main the investigation.
In case you are a Bit Digital investor or have data which will help our investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Individuals with personal data relating to Bit Digital ought to think about their choices to assist in the investigation or reap the benefits of the SEC Whistleblower program. Beneath the brand new program, whistleblowers who present authentic data might obtain rewards totaling as much as 30 p.c of any profitable restoration made by the SEC. For extra data, name Reed Kathrein at 844-916-0895 or e mail [email protected].
About Hagens Berman
Hagens Berman is a nationwide legislation agency with 9 places of work in eight cities across the nation and eighty attorneys. The agency represents traders, whistleblowers, employees and shoppers in advanced litigation. Extra in regards to the agency and its successes is situated at hbsslaw.com. For the most recent information go to our newsroom or comply with us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895
SOURCE Hagens Berman Sobol Shapiro LLP