Judge axes class action claiming Iris Energy misled investors during IPO

Iris Energy went public in late 2021, raising $232 million from an IPO, but its stock price fell quickly not long after, along with the rest of the crypto market.

A United States District Court judge has dismissed a class-action lawsuit brought by investors in Bitcoin miner Iris Energy, who alleged the mining firm concealed key risks and misled investors during its initial public offering in 2021.

In a Sept. 27 opinion order, US District Court Judge Jamel Semper dismissed the class-action lawsuit without prejudice, ruling that the investors who brought the lawsuit could not prove that IREN had ever falsified statements or intentionally misled investors.

A District Court judge dismissed a class-action suit against IREN (formerly Iris Energy). Source: Justia

Iris Energy went public in late 2021, raising $232 million from an IPO, but its stock price fell quickly not long after, along with the rest of the crypto market.
A United States District Court judge has dismissed a class-action lawsuit brought by investors in Bitcoin miner Iris Energy, who alleged the mining firm concealed key risks and misled investors during its initial public offering in 2021. In a Sept. 27 opinion order, US District Court Judge Jamel Semper dismissed the class-action lawsuit without prejudice, ruling that the investors who brought the lawsuit could not prove that IREN had ever falsified statements or intentionally misled investors. A District Court judge dismissed a class-action suit against IREN (formerly Iris Energy). Source: JustiaRead more