English
Arabic
Chinese (Simplified)
Indonesian
Russian
- A lawsuit was filed in opposition to Argo Blockchain, accusing it of creating false statements.
- Argo Blockchain’s Chief Monetary Officer stepped down from his place.
- It’s the regulation agency Rosen that introduced the lawsuit in opposition to Argo Blockchain.
Argo Blockchain has been below scrutiny ever since a lawsuit was filed final week. The lawsuit alleges that the cryptocurrency miner misled the buyers by making false statements and failing to offer full data throughout its IPO interval in 2021.
Now, one other lawsuit is on the way in which by the Rosen Regulation agency, in line with the newest press launch. The lawsuit is on behalf of the purchasers of the American Depository Shares (ADSs) of Argo Blockchain. The regulation agency additionally said that the buyers should file their petitions with the court docket by March 27, 2023. The lawsuit alleges that Argo Blockchain made deceptive statements and was additionally negligent.
Argo Blockchain was bought to the Helios facility by Galaxy Digital Holdings on December 29, 2022. Following the sale, the chief monetary officer and government director of Argo Blockchain, Alex Appleton, stepped down from his place.
In keeping with the small print, the cryptocurrency agency is in search of a alternative with the assistance of an government search agency. Appleton was quoted saying:
I’m very happy with what we now have achieved over my time with Argo. The enterprise has nice potential, and I want the Argo workforce all the very best for the long run.
Argo Blockchain is a large-scale cryptocurrency miner with operations unfold throughout Texas, the US, the UK, and Canada. It was additionally one of many corporations to turn into the primary climate-positive cryptocurrency mining agency.
Cryptocurrency mining companies had been struggling all through the extended bear market of 2022. Nonetheless, the scenario appears to be getting higher as the costs of BTC and different altcoins have risen by double-digits.