NEW YORK, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Hut 8 Corp. (“HUT” or the “Company”) (NASDAQ: HUT) on behalf of HUT stockholders. Our investigation concerns whether HUT has violated the federal securities laws and/or engaged in other unlawful business practices.
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On February 7, 2023, Hut 8 Mining Corp. announced that it was going to merge with U.S. Data Mining Group, Inc. dba US Bitcoin Corp. (“USBTC”) in a $655 million all-stock merger of equals transaction and the combined company would be named Hut 8 Corp. The deal closed on November 30, 2023.
On January 18, 2024, during early trading hours, J Capital Research published a report entitled “The Coming HUT Pump and Dump Management hiding stock ownership through undisclosed related party, a stock-promoter cabal, and a host of left-for-dead assets.” The report alleged that USBTC is backed by promoters with a history of legal issues, one of the major shareholders is an undisclosed related party, USBTC’s core asset is failing to deliver energy and high-speed internet, and USBTC's co-founder has a history of SEC-defined pump-and-dump schemes.
On this news, the price of HUT shares declined by $2.16 per share, or approximately 23.28%, from $9.28 per share to close at $7.12 on January 18, 2024.
If you purchased or otherwise acquired HUT shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
