IREN INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Iris Energy Limited Investors with Substantial Losses Have Opportunity to Lead Case

Core Viewpoint - The Iris Energy Limited class action lawsuit alleges that the company and its executives made misleading statements regarding its business prospects, particularly related to data centers and high-performance computing, leading to significant stock price declines [2]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Williams-Israel v. Iris Energy Limited and covers purchasers of Iris Energy securities from June 20, 2023, to July 11, 2024, with a deadline of December 6, 2024, for lead plaintiff applications [1]. - The lawsuit claims that Iris Energy overstated its prospects due to deficiencies at its Texas site, which were not disclosed to investors [2]. - Following a report from Culper Research on July 11, 2024, the stock price of Iris Energy fell by more than 15% [2]. Group 2: Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows investors who purchased Iris Energy securities during the class period to seek lead plaintiff status, representing the interests of the class [3]. - The lead plaintiff is typically the investor with the greatest financial interest and must be typical and adequate of the class [3]. - The lead plaintiff has the authority to select a law firm for the lawsuit, and participation as lead plaintiff does not affect the ability to share in any potential recovery [3]. Group 3: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud cases, having secured $6.6 billion for investors in class action cases [4]. - The firm has been ranked 1 in securing monetary relief for investors for six out of the last ten years [4]. - Robbins Geller has a significant history of obtaining large recoveries in securities class action lawsuits, including the largest recovery of $7.2 billion in the Enron case [4].