NEW YORK, April 8, 2023 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Marathon Digital Holdings Inc. (“Marathon” or the “Company”) MARA and reminds investors of the May 30, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Marathon stock or options between May 10, 2021 and February 28, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/MARA.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company overstated the efficacy of its disclosure controls and procedures and internal control over financial reporting; (2) as a result, the Company’s revenues and cost of revenue were materially misstated during the Class Period; (3) the foregoing, once revealed, was reasonably likely to have a material negative impact on the Company’s financial condition; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On February 28, 2023, Marathon issued a press release “announc[ing] . . . that it has cancelled its webcast and conference call for the fourth quarter and fiscal year 2022, initially scheduled for today, February 28, 2023, at 4:30 p.m. Eastern time, and will postpone the publication of its corresponding financial results.” That same day, Marathon disclosed receipt of a letter from the U.S. Securities and Exchange Commission…