blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
Track Crypto
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
Track Crypto
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Argo Lawsuit Development: Johnson Fistel Requests Information from Shareholders

Kester Odero by Kester Odero
January 27, 2023 - 9:15 am
in blockchain news, bitcoin news
0
Argo Blockchain
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

A class action complaint on behalf of Argo Blockchain plc investors has been filed, according to the shareholder rights law firm Johnson Fistel, LLP. Investors who purchased Argo: American Depository Shares (“ADSs”) pursuant and traceable to the Offering Documents issued in connection with the Company’s initial public offering (the “IPO” or “Offering”) conducted on or about September 23, 2021; and Argo securities between September 23, 2021, and October 10, 2022, both dates inclusive (the “Class Period”) are the target of the class action.

What laws were broken here?

Investors have been given notice that they have until March 27, 2023, to request permission from the court to participate as the case’s lead plaintiff. According to the lawsuit, the Offering Documents were not produced in compliance with the norms and regulations regulating their production and contained untrue representations of a material fact or omitted to mention additional information essential to make the assertions made not misleading. 

Furthermore, throughout the Class Period, Defendants made materially false and deceptive claims about the Company’s operations, business, and future prospects. Specifically, Argo was very sensitive and had substantial financial restrictions, power and other costs, and network issues; the Offering Documents and Defendants made false and/or misleading claims and/or failed to disclose these facts.

Argo’s problems

The aforementioned problems prevented Argo from being able to mine Bitcoin, carry out its business plan, fulfill its commitments, and operate its Helios facility, among other things; as a result, Argo’s business was less sustainable than Defendants had led investors to believe; as a result, Argo’s business and financial prospects were exaggerated.

The Argo class-action case will be managed by a lead plaintiff on behalf of all other class members. To represent the class in the class-action case, the lead plaintiff is free to choose the legal team. It is not necessary to be the lead plaintiff in order for investors to benefit in any potential future Argo class action settlement.

Tags: BitcoinBlockchainBTCCryptoCryptocurrency
ShareTweet
Kester Odero

Kester Odero

Kester is a Kenyan citizen currently based in the country’s capital Nairobi who studied at KCA university, also based in Nairobi, Kenya.His Passion as a writer led him to freelance news writing in his early school years. Kester likes to talk about blockchain and is keen on generating plagiarism-free work. Kester also writes on general world news and other emerging niches and research in the crypto world and the world's economy.Kester is focused on creating high-quality and highly optimized content. In line with this, he has specialized in emerging blockchain news technical analysis and price predictions. BestHe is dedicated to giving the best quality services and focused on delivering work during the required time.

Recommended For You

Boli and PARSIQ Collaborate to Boost Maldives’ Digital Landscape with Blockchain Technology

by Mushu Butt
March 29, 2023 - 2:00 pm
0
parsiq

Boli and PARSIQ join forces to boost the digital transformation of Maldives’ tourism and public sectors by using the power of blockchain technology.

Read more

Bitcoin Recovers as Altcoins Rally ahead of the Recent Market Dip

by Kester Odero
March 29, 2023 - 10:54 am
0
DCA crypto market

Bitcoin and Ether seem to be on for a recovery run as altcoins rally ahead of the recent market dip caused by CFTC's latest action on Binance.

Read more

KuCoin Community Chain Launches Its Exclusive Upgrade KCC V1.3.0 on Testnet

by Umair Younas
March 29, 2023 - 9:54 am
0
kucoin community chain

Along with declaring the upgrade, KuCoin Community Chain persuaded the entirety of the KCC community to take part in the testing.

Read more

Gameta and CHILL Join Forces to Expand Services in Web3

by Umair Younas
March 28, 2023 - 1:26 pm
0
gameta chill

Through this collaboration, Gameta and CHILL will be able to expand their product and service offerings in the Web3 ecosystem.

Read more

Binance Hits Back at US Senators as It Denies Allegations of Being a ‘Hotbed’ of Illegal Financial Activity

by Shayan Chowdhury
March 28, 2023 - 12:04 pm
0
Binance

In a recent blog post, Binance has slammed US senators’ accusations and called it an attempt to be more transparent in dealing with regulators.

Read more
Next Post
kapitaldao rainmaker

Kapital DAO and Rainmaker Games Team Up to Boost Web3 Gaming

PARTNERS LIST

  • sp

PRESS RELEASE

BlogxqmUpIrVtq

OKX to Open Office in Australia

by chainwire
March 29, 2023 - 10:56 am
0

MELBOURNE, AUSTRALIA, 29th March, 2023, ChainwireBrand Ambassadors Daniel Ricciardo, Scotty James, and McLaren F1 driver Oscar Piastri join event at...

MetaverseStockWyFdFOXZEH

Metacade raises over $14.7M as presale set to close in 72 hours

by chainwire
March 29, 2023 - 7:42 am
0

London, UK, 29th March, 2023, ChainwireMetacade, one of the most exciting GameFi ventures of 2023, has now raised over $14.7m...

logoredscaled

TMRW Conference Announces Dates and Location for Its Second Belgrade Edition

by Max Clark
March 28, 2023 - 8:55 am
0

The largest emerging tech event in Europe TMRW conference brings the latest trends in AI, blockchain, metaverse and gaming.

WinklesFlamSeasonPromoImagehxiZRNWFL

Sphynx Ink and OpenSea Partner for “Winkles & Flam” Digital Collectibles

by chainwire
March 27, 2023 - 2:34 pm
0

Toronto, Canada, 27th March, 2023, ChainwireWinkles & Flam™, the ‘Cosplaying Canadian Kitties™,’ are the First Original Cartoon Duo of the...

n

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise

@2023 - Blockchainreporter.net. All Right Reserved.