The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Stronghold Digital Mining, Inc. (NASDAQ: SDIG) Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s October 2021 initial public offering.
According to the Stronghold Digital Mining, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) contracted suppliers, including MinerVa Semiconductor Corp., were reasonably likely to miss anticipated delivery quantities and deadlines; (2) due to strong demand and pre-sold supply of mining equipment in the industry, Stronghold would experience difficulties obtaining miners outside of confirmed purchase orders; (3) as a result of the foregoing, there was a significant risk that Stronghold could not expand its mining capacity as expected; (4) as a result, Stronghold would likely experience significant losses; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Stronghold Digital Mining, Inc. you have until June 13, 2022 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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