A class-action lawsuit for misleading statements and lack of key information was brought by investors against Argo Blockchain, a crypto mining firm recently delisted from the Nasdaq.
Investors of Argo Blockchain have sued the firm for making false and misleading statements and conspicuously withholding crucial information during its initial public offering (IPO) in 2021.
The class-action lawsuit was brought against Argo’s executives and board members.
“The offering documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading,” as written in the filing.
Difficult Situation
The plaintiff argued that investors would have not acquired the company’s securities if they had learnt the truth.
On Sep. 22, 2021, Argo announced certain information about its initial public offering. According to the press release, the…
