San Diego, CA -- (SBWire) -- 01/21/2022 --An investor, who purchased shares of Marathon Digital Holdings, Inc. (NASDAQ: MARA), filed a lawsuit against Marathon Digital Holdings, Inc. f/k/a Marathon Patent Group, Inc over alleged Securities Laws violations.
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.
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.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, 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, investigation, and/or settlements are not filed/reached and/or 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.
NASDAQ: MARA Shareholder Notice: Lawsuit Alleges Misleading Statements by Marathon Digital Holdings, Inc.
A lawsuit was filed on behalf of investors in Marathon Digital Holdings, Inc. (NASDAQ: MARA) shares over alleged securities laws violations.