Crypto Mining Firm IREN Hit With Investor Class Action Lawsuit Alleging It Overstated High-Performance Computing Operations
On October 10, crypto mining company IREN (formerly Iris Energy) was hit with a class action lawsuit from investors alleging that it misled them about its high-performance computing business.
The class action lawsuit, led by Paul Williams-Israel, was filed in federal court in New York on October 7, alleging that IREN's facility in Childerness, Texas, was falsely advertised as a data center for high-performance computing (HPC) and that it overstated its computational capabilities. The lawsuit also alleges that IREN's expansion plans and HPC strategy, as published in a June 2023 statement, contained materially false information.
IREN's co-founders and co-CEOs, brothers Daniel Roberts and William Roberts, and the company's CFO, Belinda Nucifora, are named as defendants.
Translated with DeepL.com (free version)
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