Press release
Investigation announced for NASDAQ: CORZ Investor over possible Wrongdoing at Core Scientific, Inc.
An investigation on behalf of investors in Core Scientific, Inc. (NASDAQ: CORZ) shares over potential wrongdoing.
Investors who purchased shares of Core Scientific, Inc. (NASDAQ: CORZ) and currently hold any of those NASDAQ: CORZ shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Core Scientific, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Austin, TX based Core Scientific, Inc. provides blockchain and artificial intelligence (AI) infrastructure services in the United States. Core Scientific, Inc. reported that its annual Total Revenue rose from $59.52 million in 2019 to $60.32 million in 2020, and that its Net Loss increased from $12.72 million in 2019 to $12.20 million in 2020.
On March 3, 2022, Culper Research issued a report alleging, among other things, that Core Scientific "has wildly oversold both its mining and hosting businesses, which it cobbled together in a series of questionable transactions before dumping onto the market via SPAC." Moreover, the Company had "waived the 180-day lockup on over 282 million shares, making them free to be dumped just 5 trading days" from the time of the report, showing that "insiders have abandoned any pretense of care for minority shareholders."
Shares of Core Scientific, Inc. (NASDAQ: CORZ) declined from $9.80 per share on February 28, 2022, to as low as $6.08 per share on March 8, 2022.
Those who purchased shares of Core Scientific, Inc. (NASDAQ: CORZ) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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