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

Introduction

The Rosen Law Firm, a renowned global investor rights law firm, is actively pursuing an investigation into potential securities claims for shareholders of Bitfarms Ltd (NASDAQ: BITF). Recent allegations suggest that the company may have disseminated materially misleading information regarding its business practices, leading to investor losses. This article outlines the details of the investigation and what affected investors should know.

Background of Bitfarms

Bitfarms is known for its cryptocurrency mining operations, primarily focusing on Bitcoin. The company has enjoyed significant interest and investment from shareholders due to the booming digital currency market. However, on December 9, 2024, Bitfarms shocked its investors with a public announcement indicating that it would be restating its previously issued financial statements for the fiscal years 2022 and 2023.

Details of the Financial Restatement

The restatement was necessary to correct material errors related to the classification of proceeds from the sale of digital assets as well as adjustments for an accounting error concerning warrant redemptions. This news led to an immediate 6% drop in Bitfarms' stock price on December 10, 2024, highlighting the significant impact of the misleading financial statements on investor confidence and market performance.

Why Investors Should Take Action

If you invested in Bitfarms securities, there is a potential for compensation without any upfront fees or costs due to the firm’s contingency fee arrangement. Investors are encouraged to consider joining the class action with the Rosen Law Firm. This investigation aims to uncover if any wrongdoing occurred and to seek recovery for losses incurred due to the alleged misleading information provided by Bitfarms.

How to Join the Class Action

Investors interested in joining the class action can visit the Rosen Law Firm's dedicated webpage here, or contact Phillip Kim, Esq. toll-free at 866-767-3653. You can also email [email protected] for more information regarding the class action process and your rights as an investor affected by Bitfarms' recent disclosures.

The Rosen Law Firm's Credentials

The Rosen Law Firm is recognized for its extensive experience in securities class actions, boasting a proven track record of successful settlements for investors. The firm was ranked No. 1 by ISS Securities Class Action Services in 2017 for the number of settled cases and has recovered hundreds of millions of dollars on behalf of its clients. In 2019, it secured over $438 million for investors amidst various litigations. Recognizing the importance of choosing competent legal representation, Rosen Law Firm distinguishes itself with its resources and expertise.

Conclusion

In light of the recent developments with Bitfarms, it is essential for investors to remain aware of their rights and the options available to potentially recover their investments. The investigation led by the Rosen Law Firm is crucial for affected shareholders as it seeks accountability and reparation for losses incurred because of potentially misleading information. Stay connected with the firm on LinkedIn, Twitter, and Facebook for updates on this case and other investor rights matters.
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