#USA #New York #Class Action #Levi & Korsinsky #Bitfarms Ltd.

Reach Out Before Time Runs Out

Investors in Bitfarms Ltd. are alerted to a critical opportunity to safeguard their rights. Levi & Korsinsky, LLP, a law firm with a strong track record in securities litigation, has announced a class action lawsuit concerning Bitfarms Ltd. (NASDAQ: BITF). The firm is reaching out to investors who might have experienced losses due to alleged securities fraud reported between March 21, 2023, and December 9, 2024.

What is the Lawsuit About?

The class action lawsuit signifies efforts to hold Bitfarms accountable for possibly misleading claims regarding its financial practices. Specifically, the complaint alleges that key defendants made false statements or withheld vital information pertaining to the company's internal financial controls. Investors considering participation are encouraged to check their eligibility before the deadline of July 8, 2025.

Key Allegations

According to the lawsuit details:

• - Inadequate Internal Controls: It is alleged that Bitfarms had improperly maintained its internal controls over financial reporting. This has raised significant concerns regarding the company's financial transparency.
• - Misclassified Cash Flows: The company purportedly misclassified income derived from the sale of digital assets as cash flow from operating activities instead of investing activities, misleading shareholders about its financial health.
• - Overstated Remediation: Bitfarms allegedly overstated its capability to address weaknesses in its internal controls, particularly regarding the classification of its 2021 warrants, raising alarms about its operational integrity.
• - Impact on Financial Statements: These purported inaccuracies have led to suggestions that numerous previous financial statements could necessitate restatement, further complicating the firm's financial narrative.

Why Should Investors Connect?

Time is of the essence for investors looking to recover losses through this class action. Those who have incurred financial losses related to Bitfarms during the specified period should take immediate action by contacting Levi & Korsinsky. Participation as a lead plaintiff is not a requirement to be included in any distributions resulting from the lawsuit.

No Cost Almost Involved

The law firm emphasizes that investors joining the class action will not incur any upfront costs or fees to participate. As members of the class, investors may find themselves eligible for potential compensation at no out-of-pocket expense.

About Levi & Korsinsky

With over two decades of experience, Levi & Korsinsky has successfully secured billions for shareholders in various ways, bringing numerous high-stakes cases to resolution. The firm has established a well-deserved reputation as a leader in securities litigation, possessing extensive experience navigating complex legal circumstances. Their adept legal team, comprising over 70 employees, stands ready to support clients through the intricacies of such litigation.

Contacting the Firm

Investors interested in pursuing this opportunity can reach out for assistance via email or phone. Those who believe they may fall within the criteria can fill out the submission form linked in the original announcement or contact attorney Joseph E. Levi directly at (212) 363-7500, or [email protected] for further guidance.

Conclusion

In light of the allegations against Bitfarms and the impending deadline, it is crucial for affected investors to take prompt action. Engaging with Levi & Korsinsky can provide a pathway toward recognizing and potentially recovering losses. Ensure your voice is heard before the vital date lapses!