Bronstein, Gewirtz & Grossman, LLC Notifies Stronghold Digital Mining, Inc. (SDIG) Investors of Class Action and Encourages Investors to Contact the Firm
NEW YORK (ClassActionDaily) Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Stronghold Digital Mining, Inc. (“Stronghold” or the “Company) (NASDAQ: SDIG) and certain of its officers on behalf of all persons and entities that purchased Class A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with Stronghold Digital Mining’s October 2021 initial public offering (“IPO”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/sdig.
This class action seeks to recover damages against the Defendants for alleged violations of the Securities Act of 1933.
The complaint alleges that the IPO’s Registration Statement was materially false and misleading and omitted to state that: (1) contracted suppliers, including Minerva Semiconductor Corp., were reasonably likely to miss anticipated delivery quantities and deadlines; (2) due to strong demand and pre-sold supply of mining equipment in the industry, Stronghold Digital Mining would experience difficulties obtaining miners outside of confirmed purchase orders; (3) as a result, there was a significant risk that Stronghold Digital Mining could not expand its mining capacity as expected; (4) thus, Stronghold Digital Mining would likely experience significant losses; and (5) consequently, defendants’ positive statements about Stronghold Digital Mining’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
A class-action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: www.bgandg.com/sdig, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Stronghold, you have until June 13, 2022, 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.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
Phone: +1 212-697-6484