Processing your request


please wait...

Case Page

 

Case Status:    SETTLED
On or around 11/22/2022 (Settlement preliminarily approval)

Filing Date: January 20, 2021

According to the Complaint, Bit Digital, Inc. is a holding company that purports to engage in the bitcoin mining business through its wholly owned subsidiaries in U.S. and Hong Kong.

The Complaint alleges that throughout the Class Period, Defendants 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 alleges Defendants failed to disclose to investors: (1) that Bit Digital overstated the extent of its bitcoin mining operation; and (2) that, 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.

On April 29, 2021, 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 21-CV-00515.

Lead Plaintiff filed a consolidated Complaint on July 6, 2021. Defendants filed a Motion to Dismiss the consolidated Complaint on December 10.

On August 12, 2022, the parties notified the Court that they had reached an agreement in principle to Settle, and on August 16, the Court issued an Order denying without prejudice Defendants' Motion to Dismiss.

On October 12, 2022, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on November 22.

Protected Content


Please Log In or Sign Up for a free account to access restricted features of the Clearinghouse website, including the Advanced Search form and the full case pages.

When you sign up, you will have the option to save your search queries performed on the Advanced Search form.