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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

MARATHON ALERT: Bragar Eagel & Squire, P.C. is Investigating Marathon Digital Holdings, Inc. on Behalf of Marathon Stockholders and Encourages Investors to Contact the Firm

November 18, 2021 GMT

NEW YORK, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Marathon Digital Holdings, Inc. (“Marathon” or the “Company”) (NASDAQ: MARA) on behalf of Marathon stockholders. Our investigation concerns whether Marathon has violated the federal securities laws and/or engaged in other unlawful business practices.

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On October 6, 2020, Marathon Digital entered into a series of agreements with multiple parties to design and build a data center for up to 100-megawatts in Hardin, Montana. In connection with a Data Facility Services Agreement, the Company issued 6,000,000 shares of restricted common stock.

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On November 15, 2021, Marathon Digital filed a quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission (“SEC”) for the quarterly period ending September 30, 2021. In the 10-Q filing, the Company disclosed it had received a subpoena from the SEC to produce documents and communications concerning its Hardin, Montana data center.

Marathon Digital says “the SEC may be investigating whether or not there may have been any violations of the federal securities law.”

Following this news, Marathon Digital shares fell by $20.52 per share, about 27%, on heavy trading volume to close at $55.40 per share on November 15, 2021.

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.

Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com