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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
Court
1:21-cv-00515
Case number
21 Dec 2020
Class period Start
11 Jan 2021
Class period End
21 Mar 2023
Claim deadline
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
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
Total Settlement Amount

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; and digital asset staking and digital asset min...

    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