YORK, Jan. 20, 2023 /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
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.
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SOURCE Jakubowitz Law