#United States #New York #Class Action #Levi & Korsinsky #Bitfarms Ltd

Attention Bitfarms Ltd. Shareholders

As shareholders of Bitfarms Ltd. (NASDAQ: BITF), it is imperative to stay informed about your rights, especially with the deadline for filing a claim fast approaching. Levi & Korsinsky, LLP, a firm specializing in securities litigation, has released important information for investors regarding a class action lawsuit related to alleged securities fraud occurring between March 21, 2023, and December 9, 2024.

The Lawsuit's Focus

The class action lawsuit aims to recover losses for investors affected by apparent fraudulent activities. The claims focus on several significant allegations against the company, including:

• - Deficient Internal Controls: It is asserted that Bitfarms had inadequate internal controls over its financial reporting processes, which misled investors and regulators alike.
• - Misclassification of Cash Flows: The complaint mentions that the company miscategorized cash flows from the sale of digital assets, incorrectly labeling them as operating activities instead of investing activities. This misrepresentation can lead to a distorted view of the company's financial health.
• - Overstated Remediation: The lawsuit contends that Bitfarms overstated the effectiveness of its remediation of identified material weaknesses in its financial reporting. This includes issues regarding the classification of warrants issued in 2021 that were inaccurately reported.
• - Inaccurate Financial Statements: The allegations suggest that due to the aforementioned issues, Bitfarms provided incorrect financial statements that would likely need restatement. This situation rendered the company's public declarations misleading at various times.

Taking Action

If you recognize yourself as a holder of Bitfarms shares who suffered financial loss during the specified period, it’s critical to act before July 8, 2025. By contacting Levi & Korsinsky, investors can inquire about the possibility of being appointed as lead plaintiffs. However, participation in any recovery does not mandate serving in this capacity.

No Financial Burden

Investors can rest assured that should they be recognized as class members, there will be no out-of-pocket costs associated with participating in the lawsuit. Levi & Korsinsky operate on a contingency basis, meaning they only collect fees based on the recovery amount won for clients, not upfront costs. This lowers the financial barriers for many investors who may be dissuaded from pursuing legal action due to concerns about legal fees.

The Expertise of Levi & Korsinsky

With over 20 years of experience in this field, the team at Levi & Korsinsky has successfully secured hundreds of millions for wronged shareholders. Their reputation as one of the leading securities litigation firms in the United States is bolstered by rankings in ISS Securities Class Action Services' Top 50 Report for several consecutive years. Their skilled attorneys, including Joseph E. Levi and Ed Korsinsky, are dedicated to ensuring investors receive the justice they deserve.

Contact Information

If you wish to pursue your rights as a shareholder or need guidance, reach out to Levi & Korsinsky:

• - Email: [email protected]
• - Phone: (212) 363-7500
• - Office: 33 Whitehall Street, 17th Floor, New York, NY 10004

Stay informed and proactive about your rights in this evolving situation. Every shareholder's voice matters, and collectively they can drive impactful change and seek compensation for their losses.