NEW YORK, June 3, 2022 – Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Stronghold Digital Mining, Inc. (NASDAQ: SDIG).
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Stronghold Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s October 2021 initial public offering.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 13, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Stronghold Digital Mining, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) contracted suppliers, including MinerVa Semiconductor Corp., were reasonably likely to miss anticipated delivery quantities and deadlines; (2) 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; (3) as a result of the foregoing, there was a significant risk that Stronghold could not expand its mining capacity as expected; (4) as a result, Stronghold would likely experience significant losses; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
This article was shared with Prittle Prattle News as a Press Release.