CLICK HERE TO SUBMIT YOUR MARATHON LOSSES
PRINCIPAL APPLICANT DEADLINE: February 15, 2022
COURSE PERIOD: October 13, 2020 through November 15, 2021
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Free (844) 887-9500 or by email at [email protected]
MARATHONS ALLEGED MISCONDUCT
Marathon is a digital asset technology company primarily engaged in cryptocurrency mining with a focus on the blockchain ecosystem and digital asset generation. At October 13, 2020, Marathon issued a press release announcing the formation of the Beowulf joint venture. This press release stated that the Beowulf joint venture was “focused on providing low-cost power to Marathon’s Bitcoin mining operations. [,]while asserting various purported benefits that would accrue to Marathon as part of this joint venture.
At November 15, 2021, the truth about the Beowulf joint venture was revealed when Marathon released its third quarter 2021 financial results via Form 10-Q filing. In the report, Marathon disclosed that the company had received a subpoena from the U.S. Securities and Exchange Commission (“SEC”) requesting documents regarding its Hardin, Montana data center. Specifically, Marathon disclosed that “during the quarter ended September 30, 2021, [Marathon] and some of its leaders have been subpoenaed to produce documents and communications regarding Hardin, Montana data center facility described in [Marathon’s] Form 8-K of October 13, 2020.” The report went on to reveal that Marathon understands “that the SEC may investigate whether or not there have been violations of federal securities law.”
Following this news, Marathon stock fell $20.52, i.e. 27%, to close at $55.40 per share on November 15, 2021.
WHAT CAN I DO?
Marathon investors can not later than February 15, 2022, seek to be named as lead class representative plaintiff through Kessler Topaz Meltzer & Check, LLP or another attorney, or may choose to do nothing and remain an absentee class member. Kessler Topaz Meltzer & Check, LLP encourages Marathon investors who have suffered significant losses to contact the company directly for more information.
CLICK HERE TO REGISTER FOR THE CASE
WHO CAN BE A PRINCIPAL APPLICANT?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is usually the investor or small group of investors who have the greatest financial interest and who are also adequate and typical of the proposed category of investors. The lead plaintiff chooses an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead or class attorneys. Your ability to participate in any collection is not affected by whether or not to serve as lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP is filing class actions in state and federal courts nationwide and around the world. The company has developed a worldwide reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, corporate and fiduciary misconduct and negligence. In the end, we were successful if the bad guys pay and you get your assets back. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, Pennsylvania 19087
(844) 887-9500 (toll-free)
SOURCE Kessler Topaz Meltzer & Check, LLP