Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of Bitfarms Ltd. (NASDAQ: BITF) securities between March 21, 2023 and December 9, 2024, both dates inclusive (the “Class Period”). Bitfarms operates integrated Bitcoin data centers.
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Bitfarms Ltd. (NASDAQ: BITF) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Bitfarms maintained deficient internal controls over financial reporting; (2) as a result, Bitfarms incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities; (3) in addition, Bitfarms overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants; (4) the foregoing errors caused Bitfarms to misstate various items in several of the Company’s previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; and (6) as a result, Bitfarm’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Bitfarms Ltd. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by July 8, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
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