Glancy Prongay & Murray LLP, o firmă de avocatură lider în domeniul fraudei valorilor mobiliare, anunță depunerea unei acțiuni colective de valori mobiliare în numele investitorilor Argo Blockchain plc (ARBK)

LOS ANGELES– (BUSINESS WIRE) -Glancy Prongay și Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of Argo Blockchain plc (“Argo” or the “Company”) (NASDAQ: ARBK) investors who purchased: (a) American Depository Shares (“ADSs”) pursuant and/or traceable to the Company’s September 2021 initial public offering (“IPO”); and/or securities between September 23, 2021 and October 10, 2022, inclusive (the “Class Period”). Argo investors have until Martie 27, 2023 de a depune o cerere de plângere principală.

If you suffered a loss on your Argo investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Argo-Blockchain-plc/. Puteți contacta, de asemenea, Charles H. Linehan, de la GPM la 310-201-9150, fără taxă la 888-773-9224, sau prin e-mail la actionari@glancylaw.com pentru a afla mai multe despre drepturile tale.

On or about September 23, 2021, Argo conducted its initial public offering (“IPO”), selling 7.5 million American Depository Shares (“ADSs”) at $15 per ADS.

On June 7, 2022, Argo issued a press release disclosing that it had mined approximated 25% fewer Bitcoin (“BTC”) in May 2022 compared to April 2022 due to increased network difficulty, higher electricity prices, and the curtailment of mining operations at its Helios facility.

On this news, Argo’s stock price fell $0.28, or 4.4%, to close at $6.09 per ADS on June 7, 2022, thereby injuring investors.

Then, on October 7, 2022, Argo announced “several strategic actions that [intend] to bring in additional capital to the business and ensure that the Company has the working capital necessary to execute its current strategy and meet its obligations over the next twelve months.” In addition to measures being undertaken to reduce costs and preserve capital, the Company had signed a letter of intent with an affiliate of New York Digital Investment Group to amend an existing financing agreement, planned to sell 3,400 mining machines, and intended to raise money via a proposed subscription with a strategic investor.

On this news, Argo’s stock price fell $0.97, of 23.3%, to close at $3.20 per ADS on October 7, 2022, thereby injuring investors further.

Then, on October 11, 2022, Argo issued a press release stating that “[d]uring the month of September, Argo mined 215 [BTC]compared to 235 BTC in August 2022” which was “primarily due to a 12% increase in average network difficulty during September.” Additionally, Argo disclosed that it was “continuing to curtail operations at its Helios facility […] during periods of high electricity prices” and was replacing the Company’s Chief Technology Officer.

On this news, Argo’s stock price fell $0.27, or 11%, to close at $2.19 per ADS on October 11, 2022 – 85.4% below the Company’s IPO price.

The complaint filed in this class action alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Argo was highly susceptible to and/or suffered from significant capital constraints, electricity and other costs, and network difficulties; (2) the foregoing issues hampered, inter alia, Argo’s ability to mine BTC, execute its business strategy, meet its obligations, and operate its Helios facility; (3) as a result, Argo’s business was less sustainable than Defendants had led investors to believe; (4) accordingly, Argo’s business and financial prospects were overstated; and (5) as a result, the Offering Documents and Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Argo securities during the Class Period, you may move the Court no later than Martie 27, 2023 pentru a cere Curții să vă numească drept reclamant principal. Pentru a fi membru al clasei, nu trebuie să luați nicio măsură în acest moment; puteți păstra un avocat ales de dvs. sau puteți să nu luați nicio măsură și să rămâneți un membru absent al Grupului. Dacă doriți să aflați mai multe despre această acțiune sau dacă aveți întrebări referitoare la acest anunț sau la drepturile sau interesele dumneavoastră cu privire la aceste chestiuni, vă rugăm să contactați Charles Linehan, Esquire, de la GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 la 310-201-9150, telefon gratuit la 888-773-9224, prin e-mail la actionari@glancylaw.comsau vizitați site-ul nostru web la www.glancylaw.com. Dacă întrebați prin e-mail, vă rugăm să includeți adresa de corespondență, numărul de telefon și numărul de acțiuni achiziționate.

Acest comunicat de presă poate fi considerat publicitate de avocat în unele jurisdicții în conformitate cu legea aplicabilă și normele etice.

Contact

Glancy Prongay și Murray LLP, Los Angeles

Charles H. Linehan, 310-201-9150 sau 888-773-9224

1925 Century Park East, Suita 2100

Los Angeles, CA 90067

www.glancylaw.com
actionari@glancylaw.com

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• Sursa: https://www.fintechnews.org/glancy-prongay-murray-llp-a-leading-securities-fraud-law-firm-announces-the-filing-of-a-securities-class-action-on-behalf-of-argo-blockchain-plc-arbk-investors/