Bitfarms Targeted in Class Action Lawsuit Over Alleged Misleading Statements

Nasdaq-listed mining company Bitfarms is under legal fire as a class action lawsuit filed by law firm Pomerantz targets the company and its executives. The suit alleges that statements regarding Bitfarms’ financial health, particularly in their March 2024 quarterly report, contained misleading information related to warrant classification practices from 2021. This disclosure led to substantial losses for investors following a stock price decline at the end of 2022. The lawsuit accuses Bitfarms and its leadership of violating U.S. securities laws.