NEW YORK, NY / ACCESSWIRE / December 23, 2022 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
IREN Shareholders Click Here: https://www.zlk.com/pslra-1/iris-energy-class-action-submission-form?prid=34930&wire=1
SGLY Shareholders Click Here: https://www.zlk.com/pslra-1/singularity-future-technology-lawsuit-submission-form?prid=34930&wire=1
TWST Shareholders Click Here: https://www.zlk.com/pslra-1/twist-bioscience-loss-submission-form?prid=34930&wire=1
* ADDITIONAL INFORMATION BELOW *
Iris Energy Limited (NASDAQ:IREN)
This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Iris ordinary shares pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about November 17, 2021; and/or (b) Iris securities between November 17, 2021 and November 1, 2022, both dates inclusive.
Lead Plaintiff Deadline : February 13, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/iris-energy-class-action-submission-form?prid=34930&wire=1
According to the filed complaint, (i) certain of Iris’s Bitcoin miners, owned through its wholly-owned special purpose vehicles, were unlikely to produce sufficient cash flow to service their respective debt financing obligations; (ii) accordingly, Iris’s use of equipment financing agreements to procure Bitcoin miners was not as sustainable as defendants had represented; (iii) the foregoing was likely to have a material negative impact on the Company’s business, operations, and financial condition; and (iv) as a result, documents issues in connection with the Company’s initial public offering and defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
Singularity Future Technology Ltd. (NASDAQ:SGLY)
SGLY Lawsuit on behalf of: investors who purchased February 12, 2021 – November 17, 2022
Lead Plaintiff Deadline : February 7, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/singularity-future-technology-lawsuit-submission-form?prid=34930&wire=1
According to the filed complaint, during the class period, Singularity Future Technology Ltd. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had misrepresented the true educational background of its former CEO, Yang Jie; 2) Yang Jie had an outstanding arrest warrant in China, had committed forgery, and was the largest shareholder and VP of Finance for a Nasdaq-listed lending company, China Commercial Credit (‘CCC’), which failed after reporting massive losses; (3) there existed material related party transactions with SOS Information Technology New York Inc. (where Jie’s wife was Vice President) and Rich Trading, whose CEO was defendant Lei Nie, the husband of Singularity CFO Tuo Pan; (4) Singularity director John Levy had been a director at CCC from January 2013 through December 2016 as CCC failed amidst detailed allegations that Jie, when he was an executive and shareholder in CCC, misappropriated assets; (5) the Company lacked adequate internal controls, and as a result had a heightened risk of scrutiny and was ultimately subject to a United States Attorney’s Office for the Southern District of New York and SEC investigation and action as well as a potential delisting by NASDAQ; and (6) as a result, the Company’s statements during the class period about the historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company, and were materially false and misleading and lacked a factual basis.
Twist Bioscience Corporation (NASDAQ:TWST)
This lawsuit is on behalf of a class of all persons and entities who purchased or otherwise acquired Twist common stock between December 13, 2019 and November 14, 2022, inclusive.
Lead Plaintiff Deadline : February 10, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/twist-bioscience-loss-submission-form?prid=34930&wire=1
According to the filed complaint, 1) as alleged in the November 15, 2022 report by Scorpion Capital, defendants overstated the commercial viability of Twist’s synthetic DNA manufacturing technology; and 2) at the same time, defendants were engaging in accounting fraud and using unsustainable pricing to inflate the Company’s true financial condition and prospects.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
View source version on accesswire.com:
https://www.accesswire.com/733164/CLASS-ACTION-UPDATE-for-IREN-SGLY-and-TWST-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders
