According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that:
- one of U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp.’s (“USBTC”) largest shareholders is an undisclosed related party (Hut 8 Corp. formed following the November 2023 merger of Hut 8 Mining Corp. and USBTC);
- USBTC’s core asset has historically failed to provide energy and high-speed internet;
- the profitability of certain USBTC assets were overstated; and
- as a result of the foregoing, defendants’ positive statements about Hut 8’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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