LOS ANGELES, CA / ACCESSWIRE / November 29, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Core Scientific, Inc. ("Core Scientific" or "the Company") (NASDAQ:CORZ) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between January 3, 2022 and October 26, 2022, inclusive (the ''Class Period''), are encouraged to contact the firm before January 13, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Core Scientific suffered from increased power costs due in part to the expiration of a pricing agreement. The Company failed to provide hosting services to Celsius as required by contract. The Company created a surcharge not included in its contract to pass higher power costs on to Celsius. The Company was likely to face legal action from Celsius based on this alleged breach of contract. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Core Scientific, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm