NEW
YORK, May 27, 2022 /PRNewswire/
-- Jakubowitz Law announces that a securities fraud class
action lawsuit has commenced on behalf of shareholders of
Stronghold Digital Mining, Inc. (NASDAQ: SDIG).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/stronghold-digital-mining-inc-loss-submission-form/?id=27754&from=4
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.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law