Bitfarms Shareholders Urged to Act on Class Action Deadline with Robbins LLP
On May 29, 2025, Robbins LLP, a well-known law firm specializing in shareholder rights, alerted investors regarding a class action lawsuit filed against Bitfarms Ltd. (NASDAQ: BITF). This lawsuit affects anyone who acquired Bitfarms shares between March 21, 2023, and December 9, 2024. Bitfarms is recognized for operating integrated Bitcoin data centers across Canada, the United States, Paraguay, and Argentina.
The allegations stem from serious deficiencies in Bitfarms’ internal controls over financial reporting. Specifically, the complaint claims that during the specified period, the company failed to report substantial inaccuracies in its financial statements. Among the errors noted were the misclassification of proceeds from the sale of digital assets and an overstatement of the company’s ability to correct previously identified weaknesses in its internal controls.
The class action was triggered by a significant announcement from Bitfarms on December 9, 2024, indicating that its consolidated financial statements from the fiscal years 2022 and 2023 contained material errors. The company had initially categorized proceeds from the sale of digital assets as cash flow from operating activities when they should have been reported under cash flow from investing activities. This misreporting, along with related errors in accounting for warrant redemptions, necessitated a restatement of previous financial results.
Following the release of this disturbing news, Bitfarms' stocks plummeted, closing at $2.01 after a notable drop of 6.07%. This incident has alarmed shareholders and raised questions about the governance of the company's financial reporting practices.
Investors interested in being actively involved in the lawsuit must file their intentions with the court by the deadline of July 8, 2025. Acting as a lead plaintiff is crucial since this representative role guides the litigation process on behalf of all class members. However, shareholders can also choose to remain passive participants and stand to benefit from any recoveries that may arise from the case, even if they do not take any action.
Robbins LLP operates on a contingency basis, meaning clients do not face upfront costs; they only pay if there is a successful recovery. The firm's primary mission is to empower shareholders to recover their losses and promote better corporate governance practices.
For shareholders seeking updates or wishing to be notified in case of a settlement, it is recommended to subscribe to services such as Stock Watch, which provides alerts on corporate misconduct and legal matters.
For further inquiries, interested parties can reach out to attorney Aaron Dumas, Jr. or contact Robbins LLP directly via phone at (800) 350-6003. Their dedicated team is committed to assisting shareholders in navigating this legal landscape and ensuring that the rights of investors are upheld.
With the class action against Bitfarms unfolding, shareholders are encouraged to act swiftly to safeguard their interests, as the financial implications of these proceedings could be significant. Engaging with Robbins LLP is a proactive step for those looking to understand their rights and potential remedies in light of the claims being made against Bitfarms.
The allegations stem from serious deficiencies in Bitfarms’ internal controls over financial reporting. Specifically, the complaint claims that during the specified period, the company failed to report substantial inaccuracies in its financial statements. Among the errors noted were the misclassification of proceeds from the sale of digital assets and an overstatement of the company’s ability to correct previously identified weaknesses in its internal controls.
The class action was triggered by a significant announcement from Bitfarms on December 9, 2024, indicating that its consolidated financial statements from the fiscal years 2022 and 2023 contained material errors. The company had initially categorized proceeds from the sale of digital assets as cash flow from operating activities when they should have been reported under cash flow from investing activities. This misreporting, along with related errors in accounting for warrant redemptions, necessitated a restatement of previous financial results.
Following the release of this disturbing news, Bitfarms' stocks plummeted, closing at $2.01 after a notable drop of 6.07%. This incident has alarmed shareholders and raised questions about the governance of the company's financial reporting practices.
Investors interested in being actively involved in the lawsuit must file their intentions with the court by the deadline of July 8, 2025. Acting as a lead plaintiff is crucial since this representative role guides the litigation process on behalf of all class members. However, shareholders can also choose to remain passive participants and stand to benefit from any recoveries that may arise from the case, even if they do not take any action.
Robbins LLP operates on a contingency basis, meaning clients do not face upfront costs; they only pay if there is a successful recovery. The firm's primary mission is to empower shareholders to recover their losses and promote better corporate governance practices.
For shareholders seeking updates or wishing to be notified in case of a settlement, it is recommended to subscribe to services such as Stock Watch, which provides alerts on corporate misconduct and legal matters.
For further inquiries, interested parties can reach out to attorney Aaron Dumas, Jr. or contact Robbins LLP directly via phone at (800) 350-6003. Their dedicated team is committed to assisting shareholders in navigating this legal landscape and ensuring that the rights of investors are upheld.
With the class action against Bitfarms unfolding, shareholders are encouraged to act swiftly to safeguard their interests, as the financial implications of these proceedings could be significant. Engaging with Robbins LLP is a proactive step for those looking to understand their rights and potential remedies in light of the claims being made against Bitfarms.
Topics Financial Services & Investing）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.