The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Iris Energy Limited (NASDAQ: IREN) : (a) ordinary shares pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about November 17, 2021; and/or (b) securities between November 17, 2021 and November 1, 2022, both dates inclusive.
According to the Iris Energy Limited lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) certain of Iris’s Bitcoin miners, owned through its wholly-owned special purpose vehicles, were unlikely to produce sufficient cash flow to service their respective debt financing obligations; (ii) accordingly, Iris’s use of equipment financing agreements to procure Bitcoin miners was not as sustainable as defendants had represented; (iii) the foregoing was likely to have a material negative impact on the Company’s business, operations, and financial condition; and (iv) as a result, documents issues 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 Iris Energy Limited you have until February 13, 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.
To receive more information, please fill out the form.