NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it is investigating the officers and directors of CleanSpark, Inc. (“CleanSpark” or the “Company”) (NASDAQ: CLSK) for potential breaches of fiduciary duties, waste of corporate assets, and unjust enrichment between December 31, 2020 through January 14, 2021.
The complaint in the Securities Class Action alleges that the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants 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 misleading and/or lacked a reasonable basis. Recently the court denied in part Defendant’s motion to dismiss a shareholder class action lawsuit pending against CleanSpark and certain of its officers.
If you wish to discuss your rights or interests, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
