BTBT.US
id: 445
Bit Digital (BTBT) $2.1 Million Settlement
It is still possible to file a late claim. The court will decide whether to accept late claims or not.
S.D. New York
Court1:21-cv-00515
Case number21 Dec 2020
Class period Start11 Jan 2021
Class period End21 Mar 2023
Claim deadlineBit 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.
Case Status
Accepting Late Claims
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.5
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
Trades matching type
FIFO
+$2,100,000
Cash Settlement Amount