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CLEANSPARK, INC. SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSES CLICK HERE TO VIEW THE FIRM RÉSUMÉ OF BERNSTEIN LIEBHARD LLP.

CleanSpark, Inc.

Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of CleanSpark, Inc. (“CleanSpark” or the “Company”) (NASDAQ: CLSK) between December 31, 2020 and January 14, 2021. The lawsuit seeks to recover CleanSpark’s shareholders’ investment losses.

If you purchased CleanSpark securities between December 31, 2020 and January 14, 2021 and would like to discuss your legal rights and/or options please click “Join Class Action” above.

New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of CleanSpark, Inc. (“CleanSpark” or the “Company”) (NASDAQ: CLSK) from December 31, 2020 through January 14, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose to investors: (1) that the Company had overstated its customer and contract figures; (2) that several of the Company’s recent acquisitions involved undisclosed related party transactions; and (3) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or lacked a reasonable basis.

On January 14, 2021, Culper Research published a report alleging, among other things, that CleanSpark has “fabricated key elements of its business, including purported customers and contracts” and that it is “rife with undisclosed related party transactions.” Specifically, it alleged that the most recent acquisition of ATL Data Centers, LLC “is another Gutless Promotion Attempt.”

On this news, CleanSpark’s shares fell $3.63 per share, or 9%, to close at $35.71 per share on January 14, 2021, thereby damaging investors. The stock continued to decline the next trading session by $4.56, or 13%, to close at $31.15 per share on January 15, 2021.

If you wish to serve as lead plaintiff, you must move the Court no later than March 22, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

Matthew E. Guarnero
Bernstein Liebhard LLP

(877) 779-1414
MGuarnero@bernlieb.com