Bitfarms .(US:BITF) GlobeNewswire News Room·2025-06-12 17:09Core Viewpoint - The Gross Law Firm is notifying shareholders of Bitfarms Ltd. regarding a class action lawsuit due to alleged misleading statements and deficiencies in financial reporting during a specified class period [1][3]. Group 1: Allegations - The complaint alleges that Bitfarms maintained deficient internal controls over financial reporting [3]. - It is claimed that the company incorrectly categorized proceeds from the sale of digital assets as cash flow from operating activities instead of investing activities [3]. - The company allegedly overstated its ability to remediate material weaknesses in its internal controls related to the classification of the 2021 Warrants [3]. - These errors reportedly caused Bitfarms to misstate various items in previously issued financial statements, which may need to be restated [3]. - As a result, the company's public statements were materially false and misleading throughout the relevant period [3]. Group 2: Class Action Details - The class period for the lawsuit is defined as March 21, 2023, to December 9, 2024 [3]. - Shareholders are encouraged to register for the class action by the deadline of July 8, 2025, to participate in potential recovery [4]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's status [4]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].