Updates: Lawsuit filed for Investors in shares of Marathon Digital Holdings, Inc. (NASDAQ: MARA)

An investor, who purchased shares of Marathon Digital Holdings, Inc. (NASDAQ: MARA), filed a lawsuit in the U.S. District Court for the District of Nevada over alleged violations of Federal Securities Laws by Marathon Digital Holdings

Investors who purchased shares of Marathon Digital Holdings, Inc. (NASDAQ: MARA) have certain options and for certain investors are short and strict deadlines running. Deadline: February 15, 2022. NASDAQ: MARA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

Las Vegas, NV based Marathon Digital Holdings, Inc. operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States.
In October 2020, Marathon Digital Holdings, Inc announced the formation of a new joint venture with Beowulf Energy LLC (“Beowulf”) purportedly focused on delivering low-cost power to Marathon’s Bitcoin mining operations (the “Beowulf Joint Venture”). In connection with that joint venture, Marathon Digital Holdings, Inc entered into a series of agreements with multiple parties to design and build a data center in Hardin, Montana (the “Hardin Facility”), issuing 6 million shares of its common stock to the parties of those agreements.

On November 15, 2021, Marathon Digital Holdings announced Q3 2021 financial results and disclosed the company received a subpoena from the U.S. Securities and Exchange Commission seeking documents concerning its Hardin, Montana data center.

Shares of Marathon Digital Holdings, Inc. (NASDAQ: MARA) declined from $83.45 per share on November 9, 2021, to as low as $47.41 per share on November 18, 2021.

According to the complaint the plaintiff alleges on behalf of purchasers of Marathon Digital Holdings, Inc. (NASDAQ: MARA) common shares between October 13, 2020 and November 15, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 13, 2020 and November 15, 2021, the Defendants made false and/or misleading statements and/or failed to disclose that the Beowulf Joint Venture, as it related to the Hardin Facility, implicated potential regulatory violations, including U.S. securities law violations, that as a result, the Beowulf Joint Venture subjected Marathon to a heightened risk of regulatory scrutiny, that the foregoing was reasonably likely to have a material negative impact on the Company’s business and commercial prospects, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.

Those who purchased shares of Marathon Digital Holdings, Inc. (NASDAQ: MARA) have certain options and should contact the Shareholders Foundation.

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

 

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