Investors with Over $100K in Losses in Bitfarms Ltd. Can Lead a Securities Fraud Lawsuit

Bitfarms Investors Have A Chance to Lead Class Action Suit

The Rosen Law Firm has put out a critical reminder for those who bought securities from Bitfarms Ltd. (NASDAQ: BITF) between March 21, 2023, and December 9, 2024. Investors who endured losses exceeding $100,000 within this time frame have a significant opportunity to join a class action lawsuit. The deadline to become a lead plaintiff in this case is quickly approaching on July 8, 2025. If you find yourself in this situation, this article will help clarify your rights and the steps you should consider taking.

What to Do Next

For investors willing to participate in the class action, the first step is straightforward. Interested individuals should navigate to the Rosen Law Firm's website and complete the form specifically prepared for this lawsuit. The procedure is designed to ensure that your engagement is seamless and without the burden of upfront costs or direct financial commitments. If you prefer to speak directly with a representative, Phillip Kim, Esq., is available at a toll-free number (866-767-3653) and through email for further inquiries.

A class action lawsuit has already been initiated in this case, and for those interested in becoming the lead plaintiff, action must be taken by the aforementioned deadline. The lead plaintiff is a crucial figure within this legal process, representing other investors in leading the litigation against Bitfarms.

Why Choose Rosen Law Firm?

When selecting legal representation, it’s vital to ensure that the firm you choose possesses a solid track record of success, especially in securities class actions. The Rosen Law Firm specializes in this area of law, boasting numerous accomplishments including the largest ever securities class action settlement against a Chinese corporation. They have consistently ranked high in terms of securities class action settlements, having recovered hundreds of millions of dollars for investors over the years. In fact, in 2019 alone, they secured over $438 million for their clients. Such a robust track record highlights the value of choosing a qualified firm to represent your interests.

Case Details

The lawsuit against Bitfarms alleges that during the defined Class Period, the company issued several misleading statements and failed to disclose significant issues impacting its financial reporting. Specific allegations include:
1. Deficient internal controls: It is claimed that Bitfarms had inadequate internal controls over financial reporting that led to serious misclassifications of cash flow.
2. Misleading categorization: The firm allegedly miscategorized proceeds from digital asset sales, improperly representing them as cash flow from operations.
3. Overstatements in remediation efforts: Bitfarms is accused of exaggerating its ability to rectify previously identified weaknesses in its internal financial control system.
4. False financial statements: Claims have surfaced that the previously issued financial statements contained inaccuracies and eventually would require restatement.
5. Damages incurred: The lawsuit asserts that when the truth about Bitfarms’ operations was revealed, investors faced significant financial losses.

Important Information to Consider

While no class has been officially certified yet, which means individual representation is necessary until a class is recognized, investors retain the option of remaining as absent members if they choose to. Notably, participating as a lead plaintiff does not directly affect a claimant's rights regarding potential future recoveries. Moreover, one’s ability to share in any recovery from the lawsuit is not contingent upon serving as lead plaintiff.

For updates and more information, interested parties can follow the firm via their LinkedIn, Twitter, or Facebook pages to stay informed about any developments in the case.

Conclusion

If you are among those who have invested in Bitfarms Ltd. and suffered losses of over $100,000, now is the time to act. With the Rosen Law Firm providing the necessary support, you have a clear path to seek justice. Don’t miss the deadline on July 8, 2025, to take your first step towards securing your rightful compensation. Whether you wish to join the class action or inquire further, find your way to justice today.