San Diego, CA -- (SBWIRE) -- 04/26/2022 -- A lawsuit was filed on behalf of investors in Stronghold Digital Mining, Inc. (NASDAQ: SDIG) shares over alleged securities laws violations. Deadline: June 13, 2022. NASDAQ: SDIG investors should contact the Shareholders Foundation.

An investor, who purchased NASDAQ: SDIG shares, filed a lawsuit over alleged violations of Federal Securities Laws by Stronghold Digital Mining, Inc. in connection with the Company's October 2021 initial public offering.

Investors who purchased shares of Stronghold Digital Mining, Inc. (NASDAQ: SDIG) have certain options and for certain investors are short and strict deadlines running. Deadline: June 13, 2022. NASDAQ: SDIG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based Stronghold Digital Mining, Inc., a crypto asset mining company, focuses on mining Bitcoin in the United States.

In October 2021, Stronghold Digital Mining, Inc completed its IPO, selling 7,690,400 shares of Class A common stock at $19.00 per share.

On March 29, 2022, after the market closed, Stronghold announced its fourth quarter and full year 2021 financial results. Stronghold Digital Mining, Inc reported a net loss of $0.52 for the quarter, below analyst estimates of $0.04 earnings per share, and Stronghold's Chief Executive Officer cited "significant headwinds in our operations which have materially impacted recent financial performance."

Shares of Stronghold Digital Mining, Inc. (NASDAQ: SDIG) declined on April 18, 2022, to as low as $4.35 per share.

The plaintiff claims that the Registration Statement was materially false and misleading and omitted to state that contracted suppliers, including MinerVa, were reasonably likely to miss anticipated delivery quantities and deadlines, that, due to strong demand and pre-sold supply of mining equipment in the industry, Stronghold would experience difficulties obtaining miners outside of confirmed purchase orders, that, as a result of the foregoing, there was a significant risk that Stronghold could not expand its mining capacity as expected, that, as a result, Stronghold would likely experience significant losses, and that as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

Those who purchased shares of Stronghold Digital Mining, Inc. (NASDAQ: SDIG) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
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.