NEW YORK, NY / ACCESSWIRE / February 2, 2023 / WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Iris Energy Ltd. (NASDAQ:IREN): (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 (the "Class Period"), of the important February 13, 2023 lead plaintiff deadline.
SO WHAT: If you purchased Iris Energy securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Iris Energy class action, go to https://rosenlegal.com/submit-form/?case_id=10232 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 13, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, the IPO offering documents and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) certain of Iris's Bitcoin miners, owned through its Non-Recourse SPVs, were unlikely to produce sufficient cash flow to service their respective debt financing obligations; (2) accordingly, Iris's use of equipment financing agreements to procure Bitcoin miners was not as sustainable as defendants had represented; (3) the foregoing was likely to have a material negative impact on the Company's business, operations, and financial condition; and (4) as a result, the IPO offering documents and defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Iris Energy class action, go to https://rosenlegal.com/submit-form/?case_id=10232or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE: The Rosen Law Firm, P.A.