SAN DIEGO, Jan. 26, 2023 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Johnson Fistula, LLP announces that a class action has commenced on behalf of investors in Argo Blockchain plc (“Argo” or the “Company”) (OTC: ARBKF; ARBKL). The class action is on behalf of shareholders who purchased Argo: (i) American Depository Shares (“ADS”) pursuant to and/or traceable to the Offering Documents issued in connection with the company’s initial public offering conducted on or about September 23, 2021 (the “IPO” or “Sacrifice”); and/or (ii) Argo Securities between September 23, 2021 and October 10, 2022, both dates inclusive (the “Class Period”). Investors are hereby notified that they have until 27 March 2023 to move the court to act as the main plaintiff in this case.
What actions can I take at this point? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. If you are sending an email, please include a phone number.
To join this action, click or copy and paste the link below into a web browser:
There is no cost or obligation to you.
The complaint alleges that the Offer Documents were negligently prepared and as a result contained false statements of material facts or omitted to state other facts necessary to make the statements not misleading and were not prepared in accordance with the rules and regulations governing their preparation. . In addition, during the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and prospects. Specifically, the Offer Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) Argo was highly susceptible to and/or suffered from significant capital constraints, electricity and other costs, and network difficulties; (ii) the foregoing issues impeded, among other things, Argo’s ability to mine BTC, execute its business strategy, fulfill its obligations and operate the Helios facility; (iii) as a result, Argo’s business was less sustainable than the Defendants had led investors to believe; (iv) consequently, Argo’s business and financial prospects were overstated; and (v) as a result, the Offering Documents and Defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to disclose information required to be disclosed therein.
A lead plaintiff will act on behalf of all other class members by leading the Argo class action. The lead plaintiff may select a law firm of its choice to litigate the class action. An investor’s ability to share in any future Argo class action recovery is not dependent on serving as lead plaintiff.
For more information on the lead plaintiff process, see https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivatives and securities litigation. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistula.com. Lawyer advertising. Past results do not guarantee future results.
Consult:
Johnson Fistula, LLP
Jim Baker, 619-814-4471
Investor Relations
[email protected]
