The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Iris Energy Limited who purchased : (a) ordinary shares pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about November 17, 2021; and/or (b) securities between November 17, 2021 and November 1, 2022, both dates inclusive.
(i) certain of Iris’s Bitcoin miners, owned through its wholly-owned special purpose vehicles, were unlikely to produce sufficient cash flow to service their respective debt financing obligations; (ii) accordingly, Iris’s use of equipment financing agreements to procure Bitcoin miners was not as sustainable as defendants had represented; (iii) the foregoing was likely to have a material negative impact on the Company’s business, operations, and financial condition; and (iv) as a result, documents issues in connection with the Company's initial public offering and defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until February 13, 2023 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.