IREN Investors Have Opportunity to Lead Iris Energy Limited Securities Fraud Lawsuit

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].