According to the Complaint, on October 4, 2017, the Company announced it was changing its name from Bioptix, Inc. to Riot Blockchain, Inc. ("Riot"), claiming this name change was in line with a shift in the Company’s direction. As Bioptix, the Company focused on animal healthcare and veterinary products. As Riot, however, the Company was now going to focus on being a strategic investor and operator in the blockchain ecosystem.

According to the law firm press release, Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Riot’s principle executive offices were not in Colorado, but rather in Florida in the same location as a large, influential shareholder, who had a previous working relationship with one of the Defendants; (2) Riot never intended to hold its Annual General Meetings scheduled for December 28, 2017 and February 1, 2018; and (3) as a result, Defendants’ statements about Riot’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On November 6, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 18-CV-02293.

Lead Plaintiff filed a consolidated Complaint on January 15, 2019. On May 8, Lead Plaintiff filed a consolidated amended Complaint. On May 9, Lead Plaintiff corrected the consolidated amended Complaint. Defendants filed Motions to Dismiss the corrected consolidated amended Complaint on September 3. On April 30, 2020, the Court issued an Order granting Defendants' Motions to Dismiss and dismissed the Complaint without prejudice.

Lead Plaintiff filed a consolidated second amended Complaint on December 24, 2020. Defendants filed a Motion to Dismiss the consolidated second amended Complaint on February 8, 2021. On April 8, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

Lead Plaintiff filed a consolidated third amended Complaint on May 27, 2022. Defendants filed a Motion to Dismiss the consolidated third amended Complaint on July 18. On August 25, 2023, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.