#United States #New York #Class Action #Rosen Law Firm #Bitfarms Ltd

Class Action Alert for Bitfarms Ltd. Investors

Investors who purchased securities of Bitfarms Ltd. (NASDAQ: BITF) from March 21, 2023, to December 9, 2024, are receiving an urgent reminder from Rosen Law Firm. This global investor rights law firm is encouraging individuals who may have incurred losses exceeding $100,000 during this period to consider leading a securities fraud lawsuit against the company, with a deadline set for July 8, 2025.

Why Should Investors Act Now?

If you have invested in Bitfarms whose shares have experienced significant fluctuations, you may be entitled to compensation without any out-of-pocket costs through a contingency fee arrangement. By joining this class action, you can potentially recover losses while remaining free from upfront financial risk.

How to Participate in the Class Action

Interested investors can join the Bitfarms class action by submitting their information at Rosen Law Firm's website, or they can contact Phillip Kim, Esq. via toll-free call at 866-767-3653 or email at info@rosenlegal.com. It is essential for individuals who wish to serve as lead plaintiffs to file a motion with the Court by the specified deadline.

Details of the Case

The lawsuit claims that during the class period, Bitfarms made misleading statements and failed to disclose crucial information regarding its internal controls and financial reporting. Specific allegations include:
1. Deficient Internal Controls: Bitfarms reportedly maintained insufficient internal safeguards over its financial reporting, which led to erroneous categorization of asset sale proceeds.
2. Misclassification of Cash Flows: The firm allegedly misclassified cash flows from operations instead of categorizing them as cash flows from investments.
3. Overstated Remediation Efforts: Bitfarms is accused of overstating its ability to address material weaknesses in financial reporting concerning its classification of warrants.
4. Impact on Financial Statements: These errors led to inaccurate financial statements, which were expected to require restating, misrepresenting the firm's financial health to investors.

When details surfaced, many investors reportedly suffered losses due to the misleading nature of Bitfarms' public statements.

Selecting the Right Legal Representation

Rosen Law Firm prides itself on its record of success in securities class actions. They emphasize the importance of selecting counsel with experience and resources that offer competent representation. Often, firms that announce class actions lack the necessary credentials to support their claims effectively. Rosen Law Firm has successfully litigated numerous securities class actions and has secured substantial settlements for investors, exceeding hundreds of millions in compensation.

The Importance of Acting Promptly

It's crucial for affected investors to act quickly. While a class has not yet been certified, joining the case can help ensure potential recovery if the lawsuit is successful. You have the option to either select your legal counsel or remain an absent class member, though your ability to benefit from any recovery may depend on certain actions taken now.

Conclusion

For Bitfarms Ltd. investors who have experienced losses, the deadline to engage in this significant legal opportunity is fast approaching. By participating in this class action, you could play a vital role in pursuing justice while potentially recovering your losses. Follow updates through Rosen Law Firm's social media channels on LinkedIn, Twitter, and Facebook.

For further inquiries or assistance, don't hesitate to reach out to Rosen Law Firm. Don’t miss this crucial opportunity to stand up for your rights as an investor.