NY law firm investigates potential ‘securities fraud’ at Core Scientific
1 min read
A New York-based law firm says it has
This news caused Core Scientific’s stock price to drop sharply, closing at $0.22 per share, a decline of 78.1%, said the firm.
Pomerantz LLP said it was investigating these claims on behalf of investors of Core Scientific and has called for any such investors to join the potential class action.
The same law firm filed a class action lawsuit against Silvergate Capital on Dec. 13 for making “materially false and/or misleading statements” and failing to disclose “material adverse facts about the Company’s business, operations, and prospects.”
Related: BTC miner Core Scientific gets interim nod for $37.4M bankruptcy loan
On Jan. 4, Cointelegraph reported that Core Scientific had agreed to shut down 37,000 mining rigs it was hosting for Celsius due to the Bankrupt cryptocurrency lender’s failure to pay its power bills. According to the Bitcoin miner, this played a significant role in liquidity issues that led to its filing for Chapter 11 bankruptcy on Dec. 21.
On Dec 23, Cointelegraph reported that a United States bankruptcy court had granted Core Scientific interim approval to access a $37.5 million loan from existing creditors to fund its liquidity issues.
