#United States #New York #Gross Law Firm #Lawsuit #Bitfarms

The New Class Action for Bitfarms Ltd. Shareholders

In a significant development for investors of Bitfarms Ltd. (NASDAQ: BITF), the Gross Law Firm has officially initiated a securities class action aimed at protecting the interests of shareholders who acquired shares during a specified period. This move underscores the firm's commitment to holding companies accountable, ensuring that investors receive appropriate compensation for their losses.

Background of the Class Action

The class action pertains to the time frame from March 21, 2023, to December 9, 2024. Those who purchased shares from Bitfarms during this period are encouraged to come forward and assert their rights. The Gross Law Firm is inviting these shareholders to register for potential inclusion as lead plaintiffs in the action, emphasizing that becoming a lead plaintiff is not a prerequisite for participation in recovery.

According to the complaint filed by the firm, Bitfarms is accused of engaging in several misleading practices, which have harmed its shareholders. Specifically, the allegations suggest that Bitfarms:
1. Failed to maintain adequate internal controls over financial reporting, leading to inaccuracies in their disclosed financial conditions.
2. Incorrectly categorized proceeds from digital asset sales, erroneously reporting cash flow from operating instead of investing activities.
3. Overstated the remediation of material weaknesses found in their internal controls, particularly concerning the classification of the 2021 Warrants.
4. Misrepresented various financial statements, thus causing shareholders to rely on false data regarding the company's position.

These allegations highlight serious discrepancies that investors need to be aware of, as such oversights could force Bitfarms to restate its financial statements, impacting its market reputation and the valuations of its stock.

Key Dates and Actions for Shareholders

Shareholders interested in joining this legal action should act swiftly; the deadline to register as part of the lead plaintiff process is July 8, 2025. Immediate registration is crucial for shareholders to receive timely updates and information throughout the lifecycle of the case via a dedicated portfolio monitoring system. To ensure their participation, affected investors can register easily online through the firm’s website.

The Commitment of the Gross Law Firm

The Gross Law Firm is recognized nationwide for its advocacy on behalf of investors, particularly those affected by fraudulent corporate practices. Their mission is clear: protect the rights of investors against deceitful and illegal business models. With this class action, they aim to rectify the financial damage incurred by shareholders of Bitfarms.

They emphasize responsible corporate conduct and aim to deter practices that lead to inflated stock prices and subsequent losses for investors when reality does not align with promises made by the company.

By participating in this class action, shareholders can engage in collective efforts to hold Bitfarms accountable while potentially recovering financial losses due to the alleged misstatements and mismanagement.

Conclusion

In light of the recent developments, Bitfarms shareholders are strongly encouraged to review their purchases during the outlined period and consider joining the class action. It is an opportunity for collective support and accountability that could significantly impact the financial landscape for those injured by the company's alleged missteps. For further inquiries or registration, interested parties should directly contact the Gross Law Firm.

For more information or to start your registration, please visit this link.

Contact Information

• - The Gross Law Firm

15 West 38th Street, 12th Floor
New York, NY 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903

The class action brings hope to shareholders looking for resolutions and fairness in the ever-evolving landscape of digital assets and corporate governance.