Hut 8 Corp. Class Action Lawsuit - HUT

43 days left to seek lead plaintiff status

Case Summary

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The Hut 8 class action lawsuit seeks to represent purchasers or acquirers of Hut 8 Corp. (NASDAQ: HUT) securities between November 9, 2023 and January 18, 2024, inclusive (the “Class Period”).  Captioned Mayiras v. Hut 8 Corp., No. 24-cv-00904 (S.D.N.Y.), the Hut 8 class action lawsuit charges Hut 8 and certain of Hut 8’s top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Hut 8 class action lawsuit, please provide your information in the form on this page.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.  Lead plaintiff motions for the Hut 8 class action lawsuit must be filed with the court no later than April 8, 2024.

CASE ALLEGATIONS: Hut 8 is a crypto currency and data mining company.  According to the complaint, Hut 8 formed following the November 2023 merger of Hut 8 Mining Corp. and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (“USBTC”).

The Hut 8 class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) one of USBTC’s largest shareholders is an undisclosed related party; (ii) USBTC’s core asset has historically failed to provide energy and high-speed internet; and (iii) the profitability of certain USBTC assets were overstated.

The Hut 8 class action lawsuit further alleges that on January 18, 2024, J Capital Research published a report which alleged, among other things, that Hut 8’s merger with USBTC was premised on a number of alleged misstatements.  On this news, the price of Hut 8 stock fell more than 23%, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Hut 8 securities during the Class Period to seek appointment as lead plaintiff in the Hut 8 class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the Hut 8 class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Hut 8 class action lawsuit.  An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Hut 8 class action lawsuit.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list.  And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

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