Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of Nevada on behalf of shareholders of Marathon Digital Holdings, Inc. f/k/a Marathon Patent Group, Inc. who purchased shares between October 13, 2020 and November 15, 2021.
Marathon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 15, 2021, the Company disclosed that it had received a subpoena to produce documents and communications its Hardin, Montana data center facility and advised that “the SEC may be investigating whether or not there may have been any violations of the federal securities law.”
On this news, shares of Marathon fell $20.52 per share, or 27.03%, to close at $55.40 per share on November 15, 2021.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until February 15, 2022 to request that the court appoint them lead plaintiff.