BTBT.US
id: 445, Created by Stan Vick, Scout
Bit Digital, Inc. Securities Litigation Case
How it works?
- Company agreed to settle with investors to avoid further litigation
- We prepare documents and claim payout for you
Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New York
Court21-CV-00515
Case number21 Dec 2020
Class period Start11 Jan 2021
Class period End21 Mar 2023
Claim deadlineBit Digital, Inc. Securities Litigation.
Bit Digital Inc (BTBT) agreed to pay $2.1 million to settle a securities class action lawsuit accusing the Company of deceiving investors about business prospects.
The Complaint alleged that the Company and its Leaders made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleged they failed to disclose to investors that Bit Digital overstated the extent of its bitcoin mining operation.
Bit Digital Inc (BTBT) agreed to settle with investors to avoid further litigation.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Filing date
20 January 2021
Plaintiffs
Joseph Franklin, Monkam Nitcheu
Attorneys
Block & Leviton LLP (Boston, MA)
Defendants
Erke Huang
Judge
Hon. Andrew L. Carter, Jr.
Administrator
Kroll
Court hearing date
07 March 2023
Exclusion deadline
14 February 2023
Objection deadline
14 February 2023
Hearing deadline
14 February 2023
+$2,100,000
Total Settlement Amount