In May 2023, the cryptocurrency mining company Bitfarms, listed on Nasdaq, was sued in a class action by the law firm Pomerantz in the U.S. District Court for the Eastern District of New York.
Shortcomings in financial control
In March 2024, Bitfarms discovered a serious deficiency in internal financial reporting controls related to the classification of warrants from 2021. The company has made corrective statements and will complete the plan by 2024.
Allegations of misinformation
These actions indicate that Bitfarms may have made misleading and false statements about its business operations and prospects. As a result, the company's stock price plummeted at the end of last year.
Suspicion of securities law violation
These actions raise doubts about Bitfarms' potential violation of U.S. securities laws. The company is committed to implementing remedial measures to address this issue.
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Bitfarms faces lawsuit due to internal control errors
Lawsuit report against Bitfarms
In May 2023, the cryptocurrency mining company Bitfarms, listed on Nasdaq, was sued in a class action by the law firm Pomerantz in the U.S. District Court for the Eastern District of New York.
Shortcomings in financial control
In March 2024, Bitfarms discovered a serious deficiency in internal financial reporting controls related to the classification of warrants from 2021. The company has made corrective statements and will complete the plan by 2024.
Allegations of misinformation
These actions indicate that Bitfarms may have made misleading and false statements about its business operations and prospects. As a result, the company's stock price plummeted at the end of last year.
Suspicion of securities law violation
These actions raise doubts about Bitfarms' potential violation of U.S. securities laws. The company is committed to implementing remedial measures to address this issue.
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!