Bitcoin miner IREN overstated its compute ability and prospects, says lawsuit
An investor in IREN, formerly Iris Energy, sued the crypto miner, accusing it of overstating its high-performance computing ability and business prospects.
*Excerpt from Williams-Israel’s class action complaint against IREN. Source: CourtListener*
The plaintiffs argue that the statements made by IREN were materially false and misleading, as they exaggerated the company's actual computing capabilities and overall business outlook . Following the release of a critical report that highlighted these discrepancies, IREN's stock price reportedly fell by approximately 15%
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