CleanSpark, Inc. (CLSK) Securities Fraud Class Action Survives Motion to Dismiss

Philadelphia, Pennsylvania--(Newsfile Corp. - January 19, 2023) - A securities fraud class action alleging wrongdoing committed by certain CleanSpark Officers and Directors has survived a motion to dismiss the complaint.

The underlying complaint alleged that during the Class Period, Defendants shifted CleanSpark's business model from alternative energy and software to mining Bitcoin.

It is alleged that while the Company touted "[r]ecord [r]evenue" and "wins" in the form of "cashflow-positive" acquisitions that, in fact, the Company's recent acquisitions involved related party transactions and CleanSpark's purported growth plans and "wins" were significantly exaggerated.

CleanSpark shareholders who have continuously held company stock since before December 10, 2020, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, if appropriate, at no cost to them whatsoever.

If you would like to learn more about this matter, visit https://grabarlaw.com/the-latest/cleanspark-shareholder-investigation/, contact us at jgrabar@grabarlaw.com, or call 267-507-6085.

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151877