#United States #New York #Gross Law Firm #Securities Class Action #Bitfarms Ltd

Gross Law Firm Notifies Bitfarms Shareholders

The Gross Law Firm has recently issued an important notice to shareholders of Bitfarms Ltd. (NASDAQ: BITF), highlighting a key deadline of July 8, 2025. This date marks the cut-off for shareholders who purchased BITF shares during the class period from March 21, 2023, to December 9, 2024, to register for participation in a class action lawsuit against the company.

The allegations made in the complaint suggest that Bitfarms made several significant missteps in its financial disclosures, which have adversely affected investors. The main points raised include:
The company purportedly maintained inadequate internal controls over financial reporting.
Misclassification of proceeds from digital asset sales was noted, erroneously categorizing them as cash flow from operating activities instead of investing activities.
Claims were made that Bitfarms overstated the progress it made in rectifying weaknesses in its financial reporting controls related to the 2021 Warrants.
These inaccuracies resulted in previously issued financial statements being misleading, implying that they would likely require restatement, a situation which could potentially shake investor confidence.

Given the seriousness of these allegations, shareholders are urged to act quickly. It is important to understand that while seeking to be recognized as the lead plaintiff carries its own procedures, it is not a prerequisite to recover losses as part of this class action.

What Should Shareholders Do?

Those affected should register without delay to ensure they are included in the class action. The Gross Law Firm offers a secure registration process on their website, ensuring that once you register, you'll gain access to portfolio monitoring to keep you updated about the case's progress.

Furthermore, participation in this legal process does not entail any costs or obligations for shareholders, enabling them to safeguard their rights and interests with little risk involved.

The Gross Law Firm is well-recognized within the class action arena for championing the rights of investors. With a commitment to holding companies accountable for misinformation and poor practices, they aim for a legal resolution that helps rectify investor losses incurred through misleading statements.

As investigations continue, shareholders must remain proactive in ensuring their claims are accounted for in this process. The lead plaintiff deadline is rapidly approaching, and it is advisable not to procrastinate.

Conclusion

In light of the actions led by the Gross Law Firm, Bitfarms Ltd. shareholders have a critical opportunity to address their potential losses through the class action lawsuit. It is vital for those affected to register before the July 8 deadline to secure their share of the recovery process. For additional details and to register, shareholders can visit the firm’s dedicated page for Bitfarms-related class action claims.

In the world of investing, staying informed and engaged with developments at companies in which you've placed your trust is paramount. The Gross Law Firm encourages all Bitfarms shareholders to take this step actively.