Lawsuit filed for Investors who lost money with shares of Iris Energy Limited (NASDAQ: IREN)

An investor, who purchased shares of Iris Energy Limited (NASDAQ: IREN), filed a lawsuit over alleged violations of Federal Securities Laws by Iris Energy Limited in connection with certain allegedly false and misleading statements made between June 20, 2023 and July 11, 2024.

Investors who purchased a significant amount of shares of Iris Energy Limited (NASDAQ: IREN) between June 20, 2023 and July 11, 2024, have certain options and for certain investors are short and strict deadlines running. Deadline: December 6, 2024. NASDAQ: IREN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Australia based Iris Energy Limited owns and operates bitcoin mining data centers.
On July 11, 2024, Culper Research published a report alleging, among other things, that Iris "talks a big game of its [high performance computing ('HPC')] plans but ultimately seems entirely disinterested in actually doing what it takes to compete in the space," and that the Company "is a painfully transparent stock promotion that will unravel as investors realize [its] HPC claims are nonsense and [it] remains a cash guzzling machine." The Culper Research report further states that the Company's facilities, having been built for BTC mining, "are ill-equipped for HPC workloads without billions in additional costs."

Shares of Iris Energy Limited (NASDAQ: IREN) declined from $14.74 per share on June 17, 2024, to as low as $6.03 per share on August 05, 2024.

The plaintiff claims that between June 20, 2023 and July 11, 2024, the defendants misleading statements and/or failed to disclose that the Defendants overstated Iris Energy's prospects with data centers and high performance computing, in large part as a result of material deficiencies in Iris Energy's Childress County, Texas site, and that as a result, defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Iris Energy Limited (NASDAQ: IREN) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
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.

This release was published on openPR.