Press release
Investigation announced for Investors who lost money in shares of Iris Energy Limited (NASDAQ: IREN)
An investigation for investors in Iris Energy Limited (NASDAQ: IREN) shares over potential securities laws violations.
Investors who purchased shares of Iris Energy Limited (NASDAQ: IREN), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Iris Energy Limited (NASDAQ: IREN) concerning whether a series of statements by Iris Energy Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Australia based Iris Energy Limited owns and operates bitcoin mining data centers.
On July 11, 2024, Culper Research published a report alleging, among other things, that Iris "talks a big game of its [high performance computing ('HPC')] plans but ultimately seems entirely disinterested in actually doing what it takes to compete in the space," and that the Company "is a painfully transparent stock promotion that will unravel as investors realize [its] HPC claims are nonsense and [it] remains a cash guzzling machine." The Culper Research report further states that the Company's facilities, having been built for BTC mining, "are ill-equipped for HPC workloads without billions in additional costs."
Shares of Iris Energy Limited (NASDAQ: IREN) declined from $14.74 per share on June 17, 2024, to as low as $6.03 per share on August 05, 2024.
Those who purchased shares of Iris Energy Limited (NASDAQ: IREN) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
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