BOSTON, MA / ACCESSWIRE / January 21, 2021 / Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, announces that a lawsuit for violation of the federal securities laws has been filed against CleanSpark, Inc. (NASDAQ:CLSK) and certain of its executives.
On January 14, 2021, analyst Culper Research published a report entitled "CleanSpark (CLSK): Back to the Trash Can." In this report, Culper alleged that CleanSpark "is an insider enrichment scheme which, at every turn of its promotion, has vastly overstated or simply fabricated key elements of its business, including purported customers and contracts." Culper continued that "CleanSpark's entire ‘business' has been built upon lies and deceit." The market was stunned by this report, and shares fell by approximately 9.2% to close at $35.71 on January 14, 2021.
A lawsuit has been filed against CleanSpark and certain of its executives in the U.S. District Court for the Southern District of New York. The lawsuit is captioned Bishins v. CleanSpark, Inc., et al., No. 21-cv-00511 (S.D.N.Y.). The suit alleges that CleanSpark misled investors as to the Company's customer and contract figures and that several of CleanSpark's recent acquisitions involved undisclosed related party transactions.
If you purchased or acquired shares of CleanSpark between December 31, 2020 and January 14, 2021, you are strongly encouraged to contact the nationally-recognized securities law firm Block & Leviton LLP (www.blockleviton.com), at (617) 398-5600, via email at [email protected], or at https://www.blockleviton.com/cases/clsk. The deadline to move the Court to be appointed lead plaintiff is March 22, 2021.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets. The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm's lawyers have recovered billions of dollars for its clients.
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SOURCE: Block & Leviton LLP