Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Bitfarms Ltd. (“Bitfarms” or “the Company”) (NASDAQ: BITF) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Bitfarms securities between March 21, 2023, and December 9, 2024, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.
Case Details
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Bitfarms maintained deficient internal controls over financial reporting; (2) as a result, the Company incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities; (3) in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants; (4) the foregoing errors caused Bitfarms to misstate various items in several of the Company’s previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
What’s Next?
A class action lawsuit has already been filed. You may review a copy of the Complaint. You may also contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660. If you suffered a loss in Bitfarms you have until July 8, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
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About Bronstein, Gewirtz & Grossman, LLC
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace.”