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)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A whale holding $3.5 million in assets swapped 50,000 KTA for 320,000 EDEL.
Bitget TradFi section enters public beta, allowing trading of gold, forex, and other assets within the same account
Smart money wyzq.eth sold all RAVE for a profit of over $100,000, with a return rate of 83%
Octra Labs co-founder: ICO will not be canceled, but all unsold tokens will be removed from circulation