Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, March 12, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Hut 8 Corp. (NASDAQ: HUT) investors that a lawsuit was filed on behalf of investors that purchased Hut securities between November 9, 2023 and January 18, 2024, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The lawsuit states that Hut 8 emerged from the merger between Hut 8 Mining Corp. and U.S. Data Mining Group, Inc., also known as US Bitcoin Corp. (USBTC), in November 2023. The plaintiff claims that during the relevant time frame, the defendants did not inform investors of the following facts: (1) a major shareholder of USBTC was an undisclosed related party; (2) USBTC’s principal asset has a history of not delivering energy or high-speed internet; and (3) the profitability of some of USBTC’s assets was exaggerated. Following the revelation of these details, Hut 8's share price dropped by $2.16 or 23.3%, ending at $7.12 per share on January 18, 2024.
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The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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