The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Argo Blockchain plc (NASDAQ: ARBK) : (a) Argo American Depository Shares pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about September 23, 2021; and/or (b) Argo securities between September 23, 2021 and October 10, 2022.
According to the Argo lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Argo was highly susceptible to and/or suffered from significant capital constraints, electricity and other costs, and network difficulties; (ii) the foregoing issues hampered Argo’s ability to mine Bitcoin or Bitcoin equivalents, execute its business strategy, meet its obligations, and operate its Helios facility; (iii) as a result, Argo’s business was less sustainable than defendants had led investors to believe; (iv) accordingly, Argo’s business and financial prospects were overstated; and (v) as a result, the documents issued in connection with the Company's initial public offering and defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
If you suffered a loss in Argo you have until March 27, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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