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BTBT.US
id: 445, Created by Stan Vick Chase, Scout
Bit Digital, Inc. Securities Litigation.
Settled
21 December 2020
Class period Start11 January 2021
Class period End21 March 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
Case number
21-CV-00515
Filing date
20 January 2021
Lead plaintiff
Joseph Franklin, Monkam Nitcheu
Attorney
Block & Leviton LLP (Boston, MA)
Defendants
Erke Huang
Court
Southern District of New York
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