Faruqi & Faruqi Reminds Iris Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 6, 2024 - IREN

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][3]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi, LLP 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]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [2]. Group 2: Allegations Against Iris Energy - The complaint alleges that Iris Energy and its executives violated federal securities laws by making false and misleading statements about the company's prospects, particularly due to deficiencies at its Childress County, Texas site [3]. - The report from Culper Research indicated that Iris Energy is misrepresenting itself as a high-performance computing data center, while it is primarily a bitcoin miner [4]. - Following the release of the report, Iris Energy's stock fell by $1.70 per share, or 13.1%, closing at $11.20 per share on July 11, 2024 [4]. Group 3: Call for Information - Faruqi & Faruqi, LLP is also seeking information from whistleblowers, former employees, and shareholders regarding Iris Energy's conduct [5].