According to the lawsuit, the IPO Registration Statement was materially false and misleading and omitted to state:
- contracted suppliers, including MinerVa, were reasonably likely to miss anticipated delivery quantities and deadlines;
- due to strong demand and pre-sold supply of mining equipment in the industry, Stronghold Digital Mining would experience difficulties obtaining miners outside of confirmed purchase orders;
- as a result of the foregoing, there was a significant risk that Stronghold Digital Mining could not expand its mining capacity as expected;
- as a result, Stronghold Digital Mining would likely experience significant losses; and
- as a result, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
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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