SAN DIEGO, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP notifies investors of Hut 8 Corp. (NASDAQ: HUT) that a securities class action lawsuit has been filed.
The Hut 8 class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) one of USBTC’s largest shareholders is an undisclosed related party; (ii) USBTC’s core asset has historically failed to provide energy and high-speed internet; and (iii) the profitability of certain USBTC assets were overstated. The Hut 8 class action lawsuit further alleges that on January 18, 2024, J Capital Research published a report which alleged, among other things, that Hut 8’s merger with USBTC was premised on a number of alleged misstatements. On this news, the price of Hut 8 stock fell more than 23%, according to the complaint.
The lawsuit seeks to recover losses on behalf of investors who acquired securities between November 9, 2023 and January 18, 2024. Investors have until April 8, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
What can Investors Do: Shareholders who incurred losses during the class period have until April 8, 2024, to move the court to become the lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
If you would like to review the complaint and join the class action, please follow the link below for more information:
https://www.johnsonfistel.com/investigations/hut-8-class-action
There is no cost or obligation to you.
What can Investors Do: Shareholders who incurred losses during the class period, have until April 8, 2024, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
