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Press release content from Business Wire. The AP news staff was not involved in its creation.

MARATHON ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Marathon Digital Holdings, Inc. and Encourages Investors to Contact the Firm

December 19, 2021 GMT

NEW YORK--(BUSINESS WIRE)--Dec 18, 2021--

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Marathon Digital Holdings, Inc. (“Marathon” or the “Company”) (NASDAQ: MARA) in the United States District Court for the District of Nevada on behalf of all persons and entities who purchased or otherwise acquired Marathon securities between October 30, 2020 and November 15, 2021, both dates inclusive (the “Class Period”). Investors have until February 15, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

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Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Beowulf Joint Venture, as it related to the Hardin Facility, implicated potential regulatory violations, including U.S. securities law violations; (ii) as a result, the Beowulf Joint Venture subjected Marathon to a heightened risk of regulatory scrutiny; (iii) the foregoing was reasonably likely to have a material negative impact on the Company’s business and commercial prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On November 15, 2021, Marathon disclosed that “the Company and certain of its executives received a subpoena to produce documents and communications concerning the Hardin, Montana data center facility[,]” and advised that “the SEC may be investigating whether or not there may have been any violations of the federal securities law.”

On this news, Marathon’s stock price fell $20.52 per share, or 27.03%, to close at $55.40 per share on November 15, 2021.

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If you purchased or otherwise acquired Marathon shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211218005004/en/

CONTACT: Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Alexandra B. Raymond, Esq.

(212) 355-4648

investigations@bespc.com

www.bespc.com

KEYWORD: UNITED STATES NORTH AMERICA NEVADA NEW YORK

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Bragar Eagel & Squire, P.C.

Copyright Business Wire 2021.

PUB: 12/18/2021 09:00 PM/DISC: 12/18/2021 09:01 PM

http://www.businesswire.com/news/home/20211218005004/en