The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Marathon Digital Holdings, Inc. (NASDAQ: MARA) who purchased securities between May 10, 2021 and February 28, 2023. The action, which was filed in the United States District Court for the District of Nevada, alleges that the Company violated federal securities laws.
In particular, the Marathon lawsuit alleges that (i) the Company overstated the efficacy of its disclosure controls and procedures and internal control over financial reporting; (ii) as a result, the Company’s revenues and cost of revenue were materially misstated during the class period; (iii) the foregoing, once revealed, was reasonably likely to have a material negative impact on the Company’s financial condition; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until May 30, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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