law firm class action

A New York-based law firm says it has begun an investigation into whether Bitcoin miner Core Scientific and its leadership potentially engaged in “securities fraud and other unlawful business practices” which led to its stock price falling on several occasions.  According to securities class action firm Pomerantz LLP, the investigation was prompted by a report from Culper Research in 2022, which alleged that Core Scientific had “wildly oversold” its mining and hosting businesses in 2021 and also waived a 180-day lockup period of over 282 million shares, making them “free to be dumped” in Mar. 2022.  This report suggested that insiders at Core Scientific had “abandoned any pretense of care for minority shareholders,” noting ...