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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 Start
11 January 2021
Class period End
21 March 2023
Claim deadline
Bit 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
Created by Stan Vick Chase, Scout

Bit Digital Inc

Bit Digital, Inc., together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities. The company was formerly known as Golden Bull L...

    Ticker
    BTBT.US
    ISIN
    KYG1144A1058
    CIK
    1710350
    Sector
    Financial Services
    Industry
    Capital Markets
    Country
    USA
    Address
    33 Irving Place, New York, NY, United States, 10003