New York, New York – Newsfile Corp. – April 21, 2022 – WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Stronghold Digital Mining, Inc. (NASDAQ: SDIG) securities pursuant to registration statement and Prospectus (collectively, the “Registration Statement” issued in connection with the Company’s October 2021 Initial Public Offering (“IPO”). A class action lawsuit has already been filed. If you wish to act as as principal plaintiff, you must move the Court no later than June 13, 2022.
SO WHAT: If you purchased Stronghold Digital Mining securities pursuant to and/or traceable to the registration statement, you may be entitled to compensation without payment of any fees or out-of-pocket costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Stronghold Digital Mining class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=5313 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court no later than June 13, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, the IPO’s registration statement was materially false and misleading and failed to state: (1) contracted suppliers, including MinerVa, were reasonably likely to miss expected delivery quantities and times; (2) due to the high demand and pre-sold supply of mining equipment in the industry, Stronghold Digital Mining would have difficulty obtaining miners outside of confirmed purchase orders; (3) as a result of the foregoing, there was a significant risk that Stronghold Digital Mining would not be able to expand its mining capacity as planned; (4) as a result, Stronghold Digital Mining would likely suffer significant losses; and (5) therefore, defendants’ statements regarding Stronghold Digital Mining’s business, operations and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times. When the real details entered the market, the lawsuit claims investors suffered damages.
To join the Stronghold Digital Mining class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=5313 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information.
No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent party member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
The issuer is solely responsible for the content of this announcement.