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SAN FRANCISCO, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Marathon Digital Holdings, Inc. (NASDAQ: MARA) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.
Marathon Digital Holdings, Inc. (MARA) Investigation:
The investigation focuses on Marathon’s highly publicized plan to build a data management facility in Hardin, Montana to exclusively provide energy for operating Bitcoin mining servers.
On Oct. 13, 2020, Marathon announced it entered into a series of agreements with multiple parties to design and build a data center for up to 100-megawatts in Hardin, and issued 6 million restricted Marathon common shares as part of the deal “in transactions exempt from registration.”
Questions about the Hardin facility agreements came into question on Nov. 15, 2021, when Marathon announced that it and certain of its executives received a subpoena from the SEC seeking documents and communications concerning the facility. The company said, “[w]e understand the SEC may be investigating whether or not there may have been any violations of the federal securities law.”
This news sent the price of Marathon shares sharply lower on Nov. 15, 2021.
“We’re focused on investors’ losses and whether Marathon may have misled investors about the legality of funding steps taken to achieve scale in the company’s cryptocurrency mining,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Marathon and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Marathon should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email MARA@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895