BITDEER(US:BTDR) Businesswire·2025-12-12 17:07Core Viewpoint - A class action lawsuit has been filed against Bitdeer Technologies Group for alleged securities fraud, following a significant financial loss reported by the company and misleading statements regarding its product development [1][5]. Group 1: Lawsuit Details - The class action lawsuit is on behalf of shareholders who purchased Bitdeer securities between June 6, 2024, and November 10, 2025, with a deadline for filing a lead plaintiff motion set for February 2, 2026 [1]. - The lawsuit alleges that Bitdeer made materially false and misleading statements about its business operations and prospects, particularly regarding the development of its SEAL04 ASIC chip [5]. Group 2: Financial Performance - On November 10, 2025, Bitdeer reported a per-share loss of $1.28 for the third quarter of 2025, significantly worse than the expected loss of $0.22 [3]. - Following the announcement of these results, Bitdeer's stock price dropped by $2.63, or 14.90%, closing at $15.02 per share on November 11, 2025 [4]. Group 3: Product Development Issues - The company disclosed that the development of its next-generation SEAL04 ASIC chip had been substantially delayed, contradicting earlier positive statements made by Bitdeer regarding the chip's readiness [3]. - The SEAL04 chip was projected to have a chip-level energy efficiency of 5 J/TH, with mass production expected to begin in the second quarter of 2025, which was not met [5].