Lawsuit report against Bitfarms
In May 2023, the cryptocurrency mining company Bitfarms, listed on Nasdaq, was sued in a class action by Pomerantz law firm in the U.S. District Court for the Eastern District of New York.
Deficiency in financial controls
In March 2024, Bitfarms discovered a serious deficiency in its internal financial reporting controls related to the classification of warrants in 2021. The company has made corrective statements and will complete the plan in 2024.
Allegations of misleading information
These actions suggest that Bitfarms may have made misleading and false statements regarding its business operations and prospects. As a result, the company's stock price plummeted at the end of last year.
Suspected violation of securities laws
These moves raise suspicions about Bitfarms' potential violation of U.S. securities laws. The company is committed to implementing remedial measures to address this issue.
Source: https://tintucbitcoin.com/bitfarms-doi-mat-vu-kien-do-sai-sot-kiem-soat-noi-bo/
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