SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Iris Energy Limited - IREN

Core Viewpoint - Iris Energy Limited's stock price experienced a significant decline following allegations of securities fraud and poor business practices, leading to an investigation by Pomerantz LLP on behalf of investors [1][5][6]. Group 1: Stock Performance - On July 11, 2024, Iris's stock price fell by $1.70 per share, representing a 13.2% decrease, closing at $11.20 per share [1]. Group 2: Legal Investigation - Pomerantz LLP is investigating claims related to potential securities fraud or unlawful business practices involving Iris and its officers and/or directors [2][5]. - Investors are encouraged to contact Pomerantz LLP for more information regarding the class action [2][3]. Group 3: Allegations and Reports - A report published by Culper Research on July 11, 2024, criticized Iris for lacking genuine commitment to its high-performance computing (HPC) plans, labeling the company as a "cash guzzling machine" and suggesting that its HPC claims are unfounded [6]. - The report also indicated that Iris's facilities, originally built for Bitcoin mining, are inadequately equipped for HPC workloads without incurring substantial additional costs [6].