NEW YORK,
Dec. 30,
2022 /PRNewswire/ -- Jakubowitz Law announces that a
securities fraud class action lawsuit has commenced on behalf of
shareholders of Iris Energy Limited (NASDAQ: IREN).
To receive updates on the lawsuit, fill out
the
form:
https://claimyourloss.com/securities/iris-energy-limited-loss-submission-form/?id=35156&from=4
This lawsuit is on behalf of a class consisting
of all persons and entities other than defendants that purchased or
otherwise acquired: (a) Iris 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) Iris securities
between November 17, 2021 and
November 1, 2022, both dates
inclusive.
Shareholders interested in acting as a lead
plaintiff representing the class of wronged shareholders have until
February 13, 2023 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, Iris Energy
Limited issued materially false and/or misleading statements and/or
failed to disclose that: (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.
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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content:https://www.prnewswire.com/news-releases/iren-shareholder-alert-jakubowitz-law-reminds-iris-energy-limited-shareholders-of-a-lead-plaintiff-deadline-of-february-13-2023-301711282.html
SOURCE Jakubowitz Law