Investigation announced for Investors in shares of Bitfarms Ltd. (NASDAQ: BITF) over potential Wrongdoing

An investigation was announced for long-term investors in shares of Bitfarms Ltd. (NASDAQ: BITF) concerning potential breaches of fiduciary duties by certain directors of Bitfarms Ltd.

Investors who are current long term investors in Bitfarms Ltd. (NASDAQ: BITF) 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 for current long term investors in NASDAQ: BITF stocks follows a lawsuit filed against Bitfarms Ltd. over alleged securities laws violations. The investigation on behalf of current long term investors in: BITF stocks, concerns whether certain Bitfarms Ltd. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that the Defendants made false and/or misleading statements and/or failed to disclose that Bitfarms maintained deficient internal controls over financial reporting, that as a result, the Company incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities, that in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants, that the foregoing errors caused Bitfarms to misstate various items in several of the Company's previously issued financial statements, that as a result, these financial statements were inaccurate and would likely need to be restated, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Bitfarms Ltd. (NASDAQ: BITF) 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.