According to the Iris Energy 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 Non-Recourse SPVs, 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, the Offering Documents 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 IREN, 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.