SAN DIEGO, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Iris Energy Limited (NASDAQ: IREN) publicly traded securities between June 20, 2023 and July 11, 2024, both dates inclusive (the "Class Period"), have until December 6, 2024 to seek appointment as lead plaintiff of the Iris Energy class action lawsuit. Captioned Williams-Israel v. Iris Energy Limited, No. 24-cv-07046 (E.D.N.Y.), the Iris Energy class action lawsuit charges Iris Energy and ...

Group 1 - A securities fraud lawsuit has been filed against Iris Energy Ltd and certain executives, with a focus on potential recovery for investors who have lost money [1][2] - Iris Energy is a bitcoin mining operation accused of making false claims regarding its data center's capabilities for high-performance computing [2] - Investors who purchased Iris Energy common stock between June 20, 2023, and July 11, 2024, may be eligible to participate in the lawsuit, regardless of whether they sold their shares [3] Group 2 - The deadline to seek appointment as lead plaintiff in the lawsuit is December 06, 2024, and a class has not yet been certified [4] - Whistleblowers with non-public information about Iris Energy are encouraged to assist in the investigation, with potential rewards of up to 30% of any successful recovery from the SEC [5] - Block & Leviton is recognized as a leading securities class action firm, having recovered billions for defrauded investors through litigation [6]

Core Viewpoint - A class action securities lawsuit has been filed against Iris Energy Limited, alleging securities fraud that affected investors between June 23, 2023, and July 11, 2024 [1][2]. Group 1: Lawsuit Details - The complaint claims that defendants overstated Iris Energy's prospects related to data centers and high-performance computing, primarily due to significant deficiencies at the Childress County, Texas site [2]. - As a result of these misrepresentations, statements regarding Iris Energy's business, operations, and future prospects were materially false and misleading [2]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until December 6, 2024, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Legal Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

Core Viewpoint - A class action lawsuit has been filed against Iris Energy Limited (NASDAQ: IREN) by shareholders who purchased securities between June 20, 2023, and July 11, 2024, alleging that the company misled investors about its data center and high-performance computing prospects [1][2]. Allegations - The lawsuit claims that Iris Energy overstated its prospects due to material deficiencies at its Childress County, Texas site [2]. - A report by Culper Research on July 11, 2024, titled "Iris Energy Ltd (IREN): A Prius at the Grand Prix," led to a more than 15% drop in Iris Energy's stock price [3]. Legal Proceedings - Shareholders interested in serving as lead plaintiffs must submit their applications by December 6, 2024 [4]. - Participation in the class action is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4]. Company Background - Robbins LLP, the law firm handling the case, has a history of litigating securities class actions and has recovered over $1 billion for shareholders since its inception in 2002 [6].

Core Viewpoint - A class action securities lawsuit has been filed against Iris Energy Limited, alleging securities fraud that affected investors between June 23, 2023, and July 11, 2024 [1][2]. Group 1: Allegations - The lawsuit claims that defendants overstated Iris Energy's prospects related to data centers and high-performance computing due to material deficiencies at the company's Childress County, Texas site [2]. - It is alleged that the statements made by the defendants regarding Iris Energy's business, operations, and prospects were materially false and misleading, lacking a reasonable basis during the relevant time [2]. Group 2: Legal Process - Investors who suffered losses during the specified timeframe have until December 6, 2024, to request to be appointed as lead plaintiff in the case [3]. - Participation in the lawsuit does not require any out-of-pocket costs or fees for class members, allowing them to potentially receive compensation without financial obligation [3]. Group 3: Law Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [4]. - The firm has over 70 employees dedicated to serving clients in complex securities litigation [4].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Iris Energy Limited due to allegations of misleading statements regarding the company's business prospects and operations [2][4]. Group 1: Legal Investigation and Class Action - The law firm is encouraging investors who suffered losses exceeding $75,000 in Iris Energy between June 20, 2023, and July 11, 2024, to discuss their legal rights [1]. - There is a deadline of December 6, 2024, for investors to seek the role of lead plaintiff in a federal securities class action against Iris Energy [2][6]. - The complaint alleges that Iris Energy and its executives violated federal securities laws by overstating the company's prospects related to data centers and high-performance computing [4]. Group 2: Stock Performance and Market Reaction - On July 11, 2024, a report from Culper Research announced a short position in Iris Energy, claiming the company's high-performance computing claims were unfounded, leading to a stock price drop of $1.70 per share, or 13.1%, closing at $11.20 [5]. - The report characterized Iris as a "cash guzzling machine" and a "painfully transparent stock promotion" [5]. Group 3: Company Background - Faruqi & Faruqi, LLP has recovered hundreds of millions of dollars for investors since its founding in 1995 and has offices in New York, Pennsylvania, California, and Georgia [3]. - The firm is actively seeking information regarding Iris Energy's conduct from whistleblowers, former employees, and shareholders [7].

Core Points - The Gross Law Firm has issued a notice to shareholders of Iris Energy Limited (NASDAQ: IREN) regarding a class action lawsuit for shareholders who purchased shares during the class period from June 23, 2023, to July 11, 2024 [1] - The allegations state that the defendants made materially false and misleading statements about Iris Energy's business prospects, particularly related to data centers and high-performance computing, due to deficiencies at the Childress County, Texas site [1] - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially be appointed as lead plaintiff and to receive updates on the case [2] Company and Industry Summary - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud in business practices [3] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions that inflated stock prices [3]

Core Viewpoint - A class action lawsuit has been filed against Iris Energy Limited (NASDAQ: IREN) on behalf of shareholders who purchased securities between June 20, 2023, and July 11, 2024, following a report that raised concerns about the company's business model and financial health [1][4]. Group 1: Lawsuit Details - The Rosen Law Firm is representing shareholders in the class action lawsuit, which seeks recovery of investor losses without any out-of-pocket fees through a contingency fee arrangement [2][5]. - Shareholders wishing to serve as lead plaintiffs must file their motions by December 6, 2024 [1][3]. Group 2: Company Background and Allegations - Culper Research issued a report on July 11, 2024, claiming that Iris Energy is misrepresenting itself as a high-performance computing data center while remaining a "cash guzzling machine" [4]. - Following the report, IREN's stock price dropped by $1.70, or 13.1%, closing at $11.20 per share on the same day [4]. Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company and consistently ranking among the top firms for securities class action settlements since 2013 [5]. - In 2019, the firm secured over $438 million for investors, showcasing its capability in recovering significant amounts for its clients [5].

Core Viewpoint - A class action lawsuit has been filed against Iris Energy Limited for alleged violations of federal securities laws, claiming that the company made false and misleading statements regarding its business prospects and operations [1][2]. Group 1: Lawsuit Details - The lawsuit covers all individuals and entities that purchased Iris Energy securities between June 20, 2023, and July 11, 2024, referred to as the "Class Period" [1]. - Allegations include that the defendants overstated the company's prospects related to data centers and high-performance computing, primarily due to deficiencies at the Childress County, Texas site [2]. - The complaint asserts that the defendants' statements about Iris Energy's business and operations were materially false and misleading, leading to investor damages when the true information became public [2]. Group 2: Next Steps for Investors - Investors who suffered losses in Iris Energy have until December 6, 2024, to request appointment as lead plaintiff in the case [3]. - Participation in any recovery does not require serving as lead plaintiff [3]. Group 3: Legal Representation - The law firm Bronstein, Gewirtz & Grossman, LLC operates on a contingency fee basis, meaning they will only seek reimbursement for expenses and fees if successful in the lawsuit [4]. - The firm has a history of recovering significant amounts for investors in securities fraud class actions [4].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Iris Energy Limited due to allegations of misleading statements regarding the company's business prospects and operations, particularly related to its data centers and high-performance computing capabilities [2][4]. Group 1: Legal Investigation and Class Action - The firm is encouraging investors who suffered losses exceeding $75,000 in Iris Energy between June 20, 2023, and July 11, 2024, to discuss their legal rights [1]. - A federal securities class action has been filed against Iris Energy, with a deadline of December 6, 2024, for investors to seek the role of lead plaintiff [2][6]. - The complaint alleges that Iris Energy and its executives violated federal securities laws by making false and misleading statements about the company's prospects and operations [4]. Group 2: Market Reaction and Company Performance - On July 11, 2024, Culper Research issued a report taking a short position in Iris Energy, claiming the company is misrepresenting itself as a high-performance computing data center [5]. - Following the report, Iris Energy's stock fell by $1.70 per share, or 13.1%, closing at $11.20 per share [5]. Group 3: Company Background and Recovery Efforts - Faruqi & Faruqi, LLP has recovered hundreds of millions of dollars for investors since its founding in 1995, indicating a strong track record in securities litigation [3]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Iris Energy's conduct [7].