LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Argo Blockchain plc (“Argo” or “the Company”) (NASDAQ: ARBK) for violations of the federal securities laws.
Investors who purchased the Company’s American Depository Shares (“ADSs”) pursuant and/or traceable to the Company’s initial public offering conducted on September 23, 2021 (the “IPO”) and/or between September 23, 2021 and October 10, 2022, both dates inclusive (the “Class Period”), are encouraged to contact the firm before March 27, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Argo was at severe risk of skyrocketing electricity and other costs, network difficulties, and capital constraints. The Company’s failure to mitigate these risks created difficulties in mining bitcoin and executing its business strategies. The Company’s business was not as sustainable as it portrayed to the market. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Argo, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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