#United States #New York #Securities Fraud #Pomerantz LLP #Bitfarms Ltd

Investor Alert: Pomerantz Law Firm Investigates Bitfarms Ltd.

On April 28, 2025, Pomerantz LLP, a renowned law firm with extensive experience in corporate and securities class action litigation, announced that it is actively investigating potential claims on behalf of investors who have suffered financial losses in Bitfarms Ltd. (NASDAQ: BITF). This investigation primarily revolves around allegations of securities fraud and other unlawful business practices involving the company's officers and directors.

Context of the Investigation

The impetus for this investigation stemmed from a notable press release issued by Bitfarms on December 9, 2024. In the announcement, the company disclosed significant inaccuracies within its consolidated financial statements for the fiscal years 2022 and 2023. Specifically, Bitfarms admitted to a material error concerning the classification of proceeds derived from the sale of digital assets, necessitating a restatement of its financial documents. Moreover, the company recognized an accounting error linked to the redemption of certain warrants in 2023, prompting further financial adjustments.

Following this disclosure, Bitfarms experienced a substantial drop in its stock price, plummeting by $0.13 per share, which represented a decline of approximately 6.07%. This dramatic downturn brought the stock price down to $2.01 per share as of December 10, 2024.

About Pomerantz LLP

Established over 85 years ago, Pomerantz LLP is recognized as a premier firm in the realms of securities class actions and corporate litigation. Founded by the late Abraham L. Pomerantz, who is credited with pioneering securities class actions, the firm has steadfastly fought for the rights of investors. Pomerantz's commitment to defending victims of corporate fraud, breaches of fiduciary duty, and unjust business practices has resulted in significant multimillion-dollar settlements on behalf of their clients.

For investors who have been affected by Bitfarms' recent disclosures, the opportunity to join a class action lawsuit is now available. Pomerantz LLP encourages individuals who believe they may have claims against the company to reach out for more information. Investors can contact Danielle Peyton directly at [email protected] or by calling 646-581-9980, ext. 7980.

This investigation serves as a critical reminder of the significance of transparency and accountability in the financial sector, urging investors to remain vigilant in monitoring the companies they choose to support. As the inquiry into Bitfarms progresses, many will be watching closely to see how it unfolds, especially given the serious implications for investor trust and corporate governance.

Conclusion

In conclusion, Pomerantz LLP's investigation into Bitfarms Ltd. highlights essential issues surrounding investor protections and accountability in the face of potential misconduct within the corporate world. As this case develops, it will be crucial for stakeholders to remain informed and engaged in the pursuit of justice for affected investors.