Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Iris Energy Ltd. (“IREN”) (NASDAQ: IREN) investors that a lawsuit filed on behalf of investors that purchased securities (i) pursuant and/or traceable to the Offering Documents issued in connection with the Company’s 2021 initial public offering (the “IPO” or “Offering”); and/or (ii) between November 17, 2021 and November 1, 2022, both dates inclusive.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The lawsuit alleges that the defendants and the IPO offering documents made false or misleading statements and did not disclose the following information: (1) some of Iris's Bitcoin miners, which were held through its Non-Recourse SPVs, would not generate enough cash flow to pay off their debt financing, (2) as a result, Iris's use of equipment financing agreements to acquire Bitcoin miners was not as sustainable as the defendants had claimed, (3) this would have a significant negative effect on the company's operations, business and financial condition, and (4) thus, the IPO offering documents and the defendants' public statements were not accurate and did not include all the required information. The lawsuit further claims that investors suffered losses when the true information became public.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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