Bitfarms .(US:BITF) Prnewswireยท2025-06-24 13:00Core Viewpoint - A class action securities lawsuit has been filed against Bitfarms Ltd. alleging securities fraud affecting investors between March 21, 2023, and December 9, 2024 [1] Group 1: Allegations of Fraud - The lawsuit claims that Bitfarms had inadequate internal controls over financial reporting [2] - It is alleged that the company misclassified proceeds from the sale of digital assets, categorizing them as cash flow from operating activities instead of investing activities [2] - The complaint states that Bitfarms overstated its ability to remediate material weaknesses in its internal controls related to the classification of 2021 Warrants [2] - These errors purportedly led to misstatements in several previously issued financial statements, which may require restatement [2] - Consequently, the company's public statements were deemed materially false and misleading throughout the relevant period [2] Group 2: Legal Process and Participation - Investors who suffered losses in Bitfarms Ltd. during the specified timeframe have until July 8, 2025, to request appointment as lead plaintiff [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3] Group 3: Firm Background - Levi & Korsinsky has a history of securing significant settlements for shareholders and has been recognized as one of the top securities litigation firms in the U.S. for seven consecutive years [4]