(MARA) DEADLINE: Did You Suffer a Substantial Loss? Contact Johnson Fistel About Leading Marathon Digital Class Action Lawsuit
SAN DIEGO- Globe Newswire—December 18, 2021
Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Marathon Digital Holdings, Inc. f/k/a Marathon Patent Group, Inc. (NASDAQ: MARA) (“Marathon Digital” or the “Company”). The class action is on behalf of shareholders who purchased Marathon Digital securities between October 13, 2020 and November 15, 2021, inclusive (the “Class Period”). To serve as lead plaintiff in this class action, you must move the Court no later than February 15, 2022.
What actions may I take at this time? If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can:
[click here to join this action]
The Marathon Digital class-action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and 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 Digital to a heightened risk of regulatory scrutiny; (iii) this was reasonably likely to have a material negative impact on Marathon Digital’s business and commercial prospects; and (iv) as a result, Marathon Digital’s public statements were materially false and misleading at all relevant times.
On November 15, 2021, Marathon Digital disclosed that Marathon Digital “and certain of its executives received a subpoena to produce documents and communications concerning the Hardin, Montana data center facility,” and advised that the U.S. Securities and Exchange Commission “may be investigating whether or not there may have been any violations of the federal securities law.” Following this news, Marathon Digital’s stock price fell by more than 27%.
A lead plaintiff will act on behalf of all other class members in directing the Marathon Digital class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Marathon Digital class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com